Summary Box: Signed contracts to buy US homes rise 5.2 percent in July but housing demand weak

Summary Box: Pending home sales up 5.2 pct in July

PENDING HOME SALES RISE: The number of buyers who signed contracts to purchase previously occupied homes increased by 5.2 percent in July from June.

LOWER THAN LAST YEAR: The index was still 19 percent below last year’s levels, a sign that demand for housing remains weak.

ECONOMIC FEARS: Potential buyers are holding off purchases because they are worried about jobs and the economy. Many buyers have been scared away by the prospect that home prices could fall again — something most analysts expect.