US pending home sales fell 2.2 per cent in December
Posted Jan 30, 2019 11:03:29 AM.
This article is more than 5 years old.
WASHINGTON — Fewer Americans signed contracts to buy homes in December with affordability pressures causing interest from would-be buyers to fall.
The National Association of Realtors says its pending home sales index fell 2.2 per cent last month to 99, its lowest reading since April 2014. The index based on contract signings has plunged 9.8 per cent over the past 12 months.
The index fell in the Northeast, Midwest and South in December. But contract signings increased in the West region, which is among the priciest in the country and has witnessed a severe decline in sales over the past year as a result.
Pending sales are a barometer of home purchases that are completed a month or two later.
Josh Boak, The Associated Press
