“Signed home-purchase agreements in the U.S. rose in June to the highest monthly level in two years, according to the National Association of Realtors’ pending home sales index that was released on Aug. 4.
Pending home sales, considered a leading indicator because closings typically follow a month or two later, rose 3.6% in June, compared to May—the fifth consecutive monthly increase. That’s the longest streak of increases in six years. The index has also surpassed its level when Lehman Brothers collapsed last September and unemployment began to skyrocket. Pending homes sales was also up 6.7% compared to June 2008, and was higher than in any month since June 2007.”