While pending home sales in the U.S. dropped 3.2-percent between the months of March and April, the Pending Home Sales Index does show signs of a possible “leveling out” period, according to the “National Association of Realtors”:http://www.realtor.org/ (NAR).

NAR says the Pending Home Sales Index-a forward-looking indicator that measures the pending sales of existing homes by counting contracts-hit 101.4 in April, compared to 104.8 in March. The Index for April also is 10.2-percent lower than it was in April 2006 when the index hit 112.9
“It looks like we may be leaving a period of market disruptions, and for the past two months the pending homes sales index has been similar in year-ago comparisons,” said Lawrence Yun, senior economist for NAR. “Home sales might ease but should be fairly stable in the months ahead.”
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