Pursuits
Pending Sales of U.S. Existing Homes Unexpectedly Decrease
- Fewer signings mean drop in closings can't be easily dismissed
- Two of four regions saw decline in November pending sales
2016 Housing Trends: Affordability an Issue?
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Contracts to purchase previously owned U.S. homes unexpectedly fell in November, confirming earlier figures that showed the industry lost momentum toward the end of the year.
The index of pending home sales dropped 0.9 percent after a revised 0.4 percent gain the prior month, figures from the National Association of Realtors showed Wednesday in Washington. The median forecast of 28 economists surveyed by Bloomberg called for an increase of 0.7 percent.