WASHINGTON, DC (Jan 25): Pending sales of existing US homes fell more than expected in December, industry data showed on Wednesday, pointing to a moderation in home sales after recent hefty gains.

 

The National Association of Realtors' Pending Home Sales Index, based on contracts signed in December, dropped 3.5% to 96.6 after surging to a 1½ year high the prior month.

 

Economists polled by Reuters had expected pending sales to fall 1.0%. Pending sales lead existing home sales by a month or two. In the 12 months to December, pending contracts were up 5.6%.

 

A recovery is starting to emerge in the housing market and home resales have risen for three straight months. — Reuters

SHARE
SPONSORED CONTENT
Damayan Residences—new freehold sanctuary in Subang Jaya, where urban energy meets nature’s calm

With just 308 units within a single block, this development gives you a level of privacy and exclusivity rare in today’s urban market, with a walking-distance LRT station to boot.

read more