A report of the latest housing market showed a rebound on pending home sales – their highest levels in nearly a year- according to the National Association of Realtors.

The NAR’s pending home sales index surged 3.3 percent in July to 105.9, its highest level since August 2013.

Pending home sales have climbed in four of the past five months. The June decline in pending home sales was steeper than first thought, with the drop revised to 1.3 percent from 1.1 percent.