Pending home sales ease slightly but still above average

After climbing for three straight months, pending home sales dipped slightly in June, held back by inventory shortages in some markets, tight credit and stagnant wages, the National Association of Realtors said today. NAR's pending home sales index, a forward-looking indicator that tracks contract signings that usually result in home sales, slipped 1.1 percent from May to June, and was down 7.3 percent from the same time a year ago ...