In July, the third time this year, the Pending Home Sales Index crossed its benchmark value of 100, moving to 101.7.
Home resales climbed 2% last month as the housing market continues its slow, steady recovery.
All 20 Case-Shiller Index markets improved between April and May 2012.
The Pending Home Sales Index is on a 14-month winning streak.
In May, for the second time in 3 months, the Pending Home Sales Index crossed the 100 barrier.
Home resales slipped last month; a temporary setback for the housing market’s recovery.
After forging past its benchmark value of 100 in March, April’s Pending Home Sales Index dropped back to 95.5.
Low mortgage rates are helping to make homes more affordable. It appears home buyers have taken notice.
After a series of worse-than-expected data last month, the housing market appears to be back on track.
The housing market took a step back in February, but remains near post-Recession highs.