The number of pending home sales in Ohio rose in March for the 11th consecutive month, a statewide realtors group said Thursday.

Ohio’s March Pending Home Sales Index of 121.4, a forward-looking indicator based on contract signings, rose 14.9 percent from the March 2011 index of 105.7. In addition, the 2012 result also best the March indexes posted in 2010 and 2009, the Ohio Association of Realtors said.

An index of 100 is equal to the average level of contract activity during 2008, which marked the end of five consecutive record years for existing home sales and the onset of the recession. Activity levels in 2008 are reflective of a historically healthy market. The March 2012 pending sales index of 121.4 marks a 21.4 percent increase from the benchmark March 2008 index of 100, the association said.

A pending sale or a sale “under agreement” is when the buyer and seller agree on terms of the sale of a home and have a signed purchase and sale agreement, but have yet to close and be recorded as such.

The tracking of “pending sales” provides reliable information about where the market is heading in coming months, the association said.