Pending Home Sales Post 20th Consecutive Month Of Annual Gains
By Jon Klein, Search Parkland Homes for Sale - Parkland FL
(Real Living 1st Choice Realty)
The National Association of REALTORS® (NAR) reports that the Pending Home Sales Index fell 4.3 percentin December as compared to the month prior. The index now reads 101.7. The Pending Home Sales Index measures the number of U.S. homes that have gone "into contract", but have not yet closed. The report is based on data collected from local real estate associations, and from national brokers. Despite December's drop, however, the annual rate at which contracts for a home purchase were drawn increased 6.9 percent from one year ago, and marked the 20th consecutive month of annual purchase contract gains. NAR reports that 80% of homes under contract are closed within 60 days, with the majority of the remaining homes "sold" within months 3 and 4. Analysts believe that December's Pending Home...
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