Pending home sales drop in the U.S. - WQOW TV: Eau Claire, WI NEWS18 News, Weather, and Sports

Pending home sales drop in the U.S.

Posted:

WASHINGTON (WKOW) -- The number of Americans who signed contracts to buy homes fell last month after reaching a 2 1/2-year high in November. 

Sales were held back by a limited supply of available homes.

The National Association of Realtors says its seasonally adjusted index for pending home sales dropped 4.3 percent in December.  That's still 6.9 percent higher than it was in 2011.

The decline indicates sales of previously occupied homes may drop in the coming months.  There's generally a one- to two-month lag between a signed contract and a completed sale.

However, sales of previously occupied homes rose last year to their highest level in five years.

The Realtors' group predicts sales will rise nine percent this year as the housing market steadily recovers.

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and WQOW. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service and Mobile Privacy Policy & Terms of Service.

Persons with disabilities who need assistance with issues relating to the content of this station's pubic inspection file should contact News Director Dan Schillinger at 715-852-5920. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, at 888-835-5322 (TTY) or at fccinfo@fcc.gov.