(Feb. 3) The December stats for pending home sales -- signed contracts for home purchases -- increased 1.0% to an index reading of 96.6. That's up 10.9% from the December 2008 reading, according to the National Association of Realtors (NAR).

The leveling in December stands in sharp contrast to November's big drop, when the index fell 16.4%.

"There are easily understood swings in contract activity as buyers respond to a tax credit that was expiring and was then extended and expanded,” said Lawrence Yun, the NAR's chief economist. “These swings are masking the underlying trend, which is a broad improvement over year-ago levels. December activity was the fifth highest monthly tally in two years.”

Sales continue to be boosted by tax incentives. Buyers who have a contract in place to purchase a primary residence by April 30, 2010, have until June 30, 2010, to finalize the transaction to qualify for a tax credit of up to $8,000 for first-time buyers and $6,500 for repeat buyers.