Pending Home Sales Edge Up By 1.0% In December

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After showing a substantial decrease in the previous month, pending home sales stabilized in the month of December, according to a report released by the National Association of Realtors on Tuesday. Pending home sales showed a modest increase that came roughly in line with estimates.

NAR said pending home sales, a leading indicator of activity in the housing sector, increased by 1.0 percent in December following a revised 16.4 percent decrease in November. Economists had been expecting pending home sales to increase by about 1.1 percent.

After showing a substantial decrease in the previous month, pending home sales stabilized in the month of December, according to a report released by the National Association of Realtors on Tuesday. Pending home sales showed a modest increase that came roughly in line with estimates. (Market News Provided by RTTNews)