Daily Real Estate News | Thursday, December 29, 2011
Pending home sales continued to gain in November 2011 and reached the highest level in 19 months, according to the National Association of REALTORS®.
The Pending Home Sales Index, a forward-looking indicator based on contract signings, increased 7.3 percent to 100.1 in November.
November is doing reasonably well in comparison with the past year. The sustained rise in contract activity suggests that closed existing-home sales, which are the important final economic impact figures, should continue to improve in the months ahead.