Pending home sales inched up slightly in September, and for the first time in
11 months, they were above year-ago levels, according to the National Association of REALTORS®' Pending Home Sales Index. "Housing supply for existing homes was up in September by 6 percent from a year ago, which is preventing prices from rising at the accelerated clip seen earlier this year," However, tight credit conditions continue to be a barrier for many borrowers, NAR notes. The Pending Home Sales Index rose 0.3 percent in September to 105. That's 1 percent above the September 2013 reading and the second-highest level since that time, See 2014 Housing Statistics:
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