New figures show that pending US home sales rose in August for the second consecutive month, raising hopes of a turnaround in the sector.
'Attractive affordability conditions from very low mortgage interest rates appear to be bringing buyers back to the market,' said Lawrence Yun of the National Association of Realtors, the industry body which compiled the figures.
The association's index measuring soon-to-be-completed home sales rose 4.3% to 82.3 in August, much more than the 1% rise expected by economists.
Yun warned there were still other clouds on the horizon. 'The pace of a home sales recovery still depends more on job creation and an accompanying rise in consumer confidence,' he said.
