After a strong run to close out 2010, the market for home resales softened a bit in January. On a seasonally-adjusted basis, the Pending Home Sales Index dropped 3 percent last month, and December's figures were revised downward for a loss, too, according to the National Association of REALTORS®. A "pending home sale" is defined as a home under contract to sell, but not yet closed.  The forward-looking index is now at a 3-month low on a national level, but still well ahead of its … [Read more...]