According to the National Association of Realtors, the Pending Home Sales Index fell 7.6 percent in January but remains 12.3 percent higher than it was during the same month last year. Pending sales, based on contracts signed during the month, typically lead existing sales by a month or two. Lawrence Yun, the NAR’s chief economist, expects near-term sales to be weak followed by a surge of existing-home sales in April, May, and June. More here.