Pending home sales were up in January and the index used to track them rose to its highest level since 2010, the National Association of REALTORS® (NAR) announced today.

The Pending Home Sales Index, a forward-looking indicator used by NAR that tracks contract signings but not closings, increased 4.5 percent in January compared to December and is 9.5 percent above January 2012.

Pending home sales were up in every region including the Midwest where the index increased 4.5 percent in January and is 17.7 percent above a year ago, according to NAR.

Read the news release and watch a video on pending home home sales from NAR.

Media coverage of pending home sales:

U.S. pending home sales rise to highest since 2010 – Chicago Sun-Times (via AP)

Pending home sales rise in January – MarketWatch