- July's existing-home sales strong at 5.39 million
- Existing-home sales hit 6-year high in August
- May delivers robust existing-home sales
- June's existing-home sales take a step back
- Survey: Building material shortage could dampen housing recovery
- Existing-home sales back down from recent peak
- November's existing-home sales dip amid steady price gains
The Pending Home Sales Index for July declined 1.3% to 109.5 as higher mortgage rates dampened enthusiasm for home buyers, according to the National Association of Realtors (NAR).
The NAR's Chief Economist Lawrence Yun didn't seem concerned by what he called a "modest decline in sales."
The Pending Home Sales Index is a forward-looking indicator based on contract signings. The index has remained above year-ago levels for 27 consecutive months.
The South and Midwest showed little change, but the Northeast and the West fell 6.5% and 4.9%, respectively.
The NAR projects existing-home sales to increase 10% to about 5.1 million for all of 2013. The forecast for 2014 is about 5.2 million.