Pending home contracts beat expectations
Pending home contracts beat expectations
Pending sales of existing homes surged to a 1 1/2-year high in November, an industry group said today, offering more signs of a tentative recovery in the housing market, Reuters reported. The National Association of Realtors’ Pending Home Sales Index, based on contracts signed in November, increased 7.3 percent to 100.1, the highest level since April 2010. Economists polled by Reuters had expected pending sales to rise only 2 percent. Pending sales lead existing home sales by a month or two.
Pending sales of existing homes surged to a 1 1/2-year high in November, an industry group said today, offering more signs of a tentative recovery in the housing market, Reuters reported. The National Association of Realtors’ Pending Home Sales Index, based on contracts signed in November, increased 7.3 percent to 100.1, the highest level since April 2010. Economists polled by Reuters had expected pending sales to rise only 2 percent. Pending sales lead existing home sales by a month or two.
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