Moving in the right direction, Gain seen in pending home sales, housing affordability sets new record.

Pending home sales have edged up, hinting at a possible pickup of sales activity in coming months, according to the National Association of Realtors.

The Pending home sales index, a forward-looking indicator based on contracts sighned in February, rose 2.1 percent to 82.1 from a reading of 80.4 in January, but is 1.4 percent below February 2008 when it was 83.3.