U.S. Pending Home Sales Up 6.3%

Some good news in an otherwise gloomy picture:

The number of new sales contracts on existing homes jumped a seasonally adjusted 6.3% in December as buyers took advantage of lower mortgage rates and falling prices, a real estate trade group said Tuesday.The pending home sales index rose 6.3% in December and is now up 2.1% compared with a year earlier, the National Association of Realtors said. The increase points to a healthy gain in existing-home sales in January and February. The index is based on signed sales contracts, which usually occur a month or two before the sale is closed, when sales are reported in the NAR’s existing-home sales report.

U.S. Pending Home Sales Up 6.3%: Realtors Say [MarketWatch]

One thought on “U.S. Pending Home Sales Up 6.3%

  1. It’s all very nice. There are a record 19 million homes empty by the end of 2008. Apparently the home sales number is due to the huge rise in the “affordability” index. How would SF perform on this index?

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