Pending US property sales surge

Home sales under offer (pending) continued to gain in November 2011, reaching its highest level in 19 months.

The Pending Home Sales Index is a forward-looking indicator based on contract signings. Pending home sales in the South of the US rose 4.3% in November to an index of 103.8 and remains 8.7% above November 2010.

The NAR chief economist comments that the sustained rise in contract activity suggests that existing-home sales should continue to improve in the months ahead.


Posted: 2 January 2012
Source: National Association of Realtors
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