Pending home sales rebounded in January, ticking up following a decline in December, according to the National Association of Realtors®. Only the West region reported a minor drop in month-over-month contract activity, while the other three major regions each saw pending home sales grow. Year-over-year pending home sales activity was up in all four regions and thus up nationally compared to one year ago. The Pending Home Sales Index (PHSI),* [video]www.nar.realtor/pending-home-sales[/video], a forward-looking indicator based on contract signings, grew 5.2% to 108.8 in January. Year-over-year contract signings ... (full story)