Home for sale

Pending home sales slowed a bit in August, a real estate trade group reported Monday. (Bryan Chan / Los Angeles Times)

By Tim Logan
September 29, 2014

The number of people who signed contracts to buy homes in August dipped slightly, though it remains near its highest level in a year.

The National Assn. of Realtors reported Monday that its pending home sales index, which counts sales that are in contract but not yet closed, fell 1% in August. Analysts had predicted it would stay flat.

Despite the dip, August was the fourth-straight month with the index above higher than what the Realtors Assn. refers to as an “average” level of contract activity.

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