Alan Zibel, Associated Press / Yahoo Finance

New Low for Pending Home Sales in February Is Latest Sign of a Still-Tumbling Housing Market

WASHINGTON (AP) — Homeowners and investors hunting for any indication that the housing market has bottomed out didn’t get it Tuesday, as the latest home sales data from a real estate trade group moved that sign further down the road to recovery.

The National Association of Realtors said pending U.S. home sales fell in February to the lowest reading since the index began in 2001. The trade group’s seasonally adjusted index of pending sales for existing homes fell to 84.6 from January’s upwardly revised reading of 86.2. A year earlier, the index stood at 107.6.

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