In February the NAR (National Association of Realtors) Pending Home Sales Index (PHSI) confirmed a still slowing home housing market. This morning, PHSI showed the eight consecutive month of decline of contract signings.   PHSI is a good future indicator predicting home sales over 30 to 60 days. In February the index was down .8 percent to 93.9 from a revised 94.7 in January. Originally it was estimated that January would show 95.0. This February showed a level 10.5 percent below the index for February 2013, the lowest since October 2011 when it was 92.2.   NAR chief economist Lawrence Yun was optimistic about the import of pending sales data. He commented that he believes the recent slowing of home sales may be in the past while home prices continue to increase. “Contract signings for the past three months have been little changed, implying the market appears to be stabilizing”,…

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