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NAR: Pending home sales rise in the Northeast in December

Jan 28, 2016
Pending home sales were mostly unchanged in December, but inched forward slightly, fueled by a large increase in the Northeast that outpaced declines in the other three major regions, according to the National Association of REALTORS (NAR). 
 
NAR Chief Economist Lawrence Yun said warmer than average weather and more favorable inventory conditions compared to other parts of the country encouraged more households in the Northeast to make the decision to buy last month. The Pending Home Sales Index, a forward-looking indicator based on contract signings in December, rose 6.1 percent in the Northeast to 97.8, 15.3 percent above a year ago. 
 
Nationally, the index rose 0.1 percent to 106.8 from a downwardly revised 106.7 in November, and is now 4.2 percent above December 2014. The index has increased year-over-year for 16 consecutive months. 
 
To read the entire NAR press release, click here.
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