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NAR: Pending home sales decline modestly in November

Dec 31, 2015
Pending home sales in November slightly declined for the third time in four months as buyers continue to battle both rising home prices and limited homes available for sale, according to the National Association of REALTORS (NAR).
 
The Pending Home Sales Index, a forward-looking indicator based on contract signings in November, decreased 0.9 percent to 106.9 from an upwardly revised 107.9 in October. Although the index has increased year-over-year for 15 consecutive months, last month’s annual gain was the smallest since October 2014. 
 
In the Northeast, the index fell 3 percent to 91.8 in November, but is still 4.3 percent above a year ago.
 
To read the entire NAR press release, click here
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