More People Sign Contracts to Buy Homes in Feb.

By: Associated Press
By: Associated Press

More Americans signed contracts to buy homes in February, but sales were uneven across the country and not enough to signal a rebound in the housing market.

The National Association of Realtors says its index of sales agreements for previously occupied homes rose 2.1 percent last month to a reading of 90.8. Sales rose in every region but the Northeast.

Signings were 19.6 percent above June's index reading, the low point since the housing bust. Still, the index is below 100, which is considered a healthy level. The last time it reached that point was in April, the final month people could qualify for a home-buying tax credit.

Sales of previously owned homes fell last year to the lowest level in 13 years. Economists say it will be years before the housing market fully recovers.

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