Pending home sales down in February

Pending home sales for February dropped.

Pending home sales in February drop​ped, according to the National Association of Realtors. The Pending Home Sales Index, which judges sales on contract signings, fell by 0.8 percent to stand at 93.9 in February.

February's figures are slightly lower than January's mark of 94.7 and a 10.5 percent drop from February 2013's figure of 104.9. NAR went on to say the index in February 2013 is the lowest reading since October 2011.

The decrease over the past month is also below what economists were originally predicting. According to a survey conducted by Bloomberg, respondents were forecasting a rise of 0.2 percent. NAR Chief Economist Lawrence Yun said the decline in February is just a blip on the radar.

"Contract signings for the past three months have been little changed, implying the market appears to be stabilizing," Yun said. "Moreover, buyer traffic information from our monthly Realtor® survey shows a modest turnaround, and some weather delayed transactions should close in the spring."

The NAR is predicting existing-home sales will total 5 million for the year, which is a slight decline from 2013's total of 5.1 million

Home builders and other businesses who are looking to add to their workforce can call up operations recruiters to help them find experienced workers.

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