Pending-home sales shot up by 8 percent year-over-year in January, according to the National Association of Realtors. The trade group found that pending-home sales – contract signings for homes that have not yet closed – rose from 89.8 in January last year, which it indexes on a monthly basis. NAR said that the Pending Home Sales Index also climbed by 2 percent to 97 in January, reaching the highest figure since the homebuyer tax credit lifted it to 111.3 in April 2010.
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Pending-Home Sales Eclipse 2011 Figures by 8%: NAR