Wednesday, February 27, 2013 1:12 pm
News Summary: US pending home sales rise 4.5 pct.
By The Associated Press
MORE SALES: There is generally a one- to two-month lag between a signed contract and a completed sale. The increase points to more sales in the coming months.
SOLID RECOVERY: Housing is steadily recovering after a deep, six-year slump. New-home sales jumped last month and home prices are rising steadily, two reports Tuesday showed.