WASHINGTON (Reuters) - Contracts to buy previously owned U.S. homes rebounded less than expected in September, pointing to a gradual housing market recovery.
The National Association of Realtors said on Monday its Pending Home Sales Index, based on contracts signed last month, gained 0.3 percent to 105.0 after falling 1.0 percent in August.
Economist polled by Reuters had forecast pending home sales rising 0.5 percent. These contracts become sales after a month or two. Contracts rose in the Northeast and South, but fell in the West and Midwest.
Compared to September last year, contracts were up 1.0 percent.
(Reporting By Lucia Mutikani; Editing by Meredith Mazzilli)
