Pending Sales of U.S. Existing Homes Rose in December
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The number of Americans signing contracts to buy previously owned homes rose in December for a third month, showing the industry that triggered the recession was stabilizing heading into 2011.
The index of pending home resales climbed 2 percent, more than forecast, after a revised 3.1 percent gain the prior month, figures from the National Association of Realtors showed today in Washington. The median estimate in a Bloomberg News survey called for a 1 percent increase.