NAR: Pending home sales leveling out, market balancing

NAR: Pending home sales leveling out, market balancing: "WASHINGTON -- April 4, 2006 -- Pending home sales are showing signs of leveling out, indicating that the housing market is entering a period of stabilization, according to the National Association of Realtors� (NAR).

The Pending Home Sales Index (PHSI), based on contracts signed in February, slipped 0.8 percent to a level of 117.7 from an upwardly revised index of 118.6 in January, and is 5.2 percent below February 2005. January experienced a strong upward revision from a preliminarily reported index of 116.3 and was higher than the December reading of 117.6; additional data from the Northeast showed that region to be stronger than earlier believed."