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Thursday, December 29, 2011

Pending home sales UP in November!!!

Pending sales of existing U.S. homes surged to a 1-1/2 year high in November, an industry group said on Thursday, offering more signs of a tentative recovery in the housing market.
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Phillip Spears | Digital Vision | Getty Images
Fixing the economy should come before housing policy, according to a new survey by real estate website Trulia.com.


The National Association of Realtors' Pending Home Sales Index, based on contracts signed in November, increased 7.3 percent to 100.1 — the highest level since April 2010.
Economists polled by Reuters had expected pending sales to rise only 2 percent. Pending sales lead existing home sales by a month or two.
Recent data on home sales and construction have been fairly upbeat, suggesting an improvement in the sector, but prices continue to trend lower

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