Pending home sales fall in December

By Ironman   follow   Mon, 28 Jan 2013, 12:21am PST   ↑ Like   ↓ Dislike (1)   219 views   0 comments   Watch (0)   Share   Quote  

WASHINGTON (MarketWatch) -- Pending home sales fell 4.3% in December, with low inventory cutting results, according to data released Monday by the National Association of Realtors. The trade group's pending-home-sales index declined to 101.7 in December from 106.3 in November. A reading of 100 equals the average level of contract activity in 2001, when NAR started tracking these data.

"Supplies of homes costing less than $100,000 are tight in much of the country, especially in the West, so first-time buyers have fewer options," said Lawrence Yun, NAR's chief economist.

Wow... when NAR reports negative news, you know it must be bad!!


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