Pending Home Sales Post 20th Consecutive Month Of Annual Gains
The National Association of REALTORS® (NAR) reports that the Pending Home Sales Index fell 4.3 percent in December as compared to the month prior. The index now reads 101.7. The Pending Home Sales Index measures the number of U.S. homes that have gone "into contract", but have not yet closed. The report is based on data collected from local real estate associations, and from national brokers. Despite December's drop, however, the annual rate at which contracts for a home purchase were drawn increased 6.9 percent from one year ago, and marked the 20th consecutive month of annual purchase contract gains.…