By Jeffry Bartash
WASHINGTON (MarketWatch) - Sales of homes in the U.S. rose 4.3% in August, based on the number of contracts signed. The National Association of Realtors said its pending home sales index rose to 82.3 from 78.9 in July. Pending sales reflect contracts signed between home buyers and sellers. The closing of a sale usually takes a few months. Lawrence Yun, chief economist of NAR, said ultra-low interest rates are drawing buyers back into the market, though the housing sector is still subdued. A year earlier, the pending home sales index stood at 103.0. Pending sales fell in the North but rose in all other regions.
