Summary Box: Signed home contracts up in February

WASHINGTON – MODEST SIGNINGS BUMP: More Americans signed contracts to buy homes in February, up 2.1 percent from January, according to the National Association of Realtors' pending home sales index released Monday.

BELOW HEALTHY LEVEL: Singings were 19.6 percent above June's index reading, the low point since the housing bust. But February's 90.8 reading is below 100, which is considered a healthy level.

GOOD INDICATOR?: Contract signings are usually a good indicator of where the housing market is heading. But some buyers might have canceled purchases after the properties were valued much lower than their initial bids.