FILE - In this Tuesday, Dec. 11, 2012 file photo, an advertisement in the classified section of the Boston Herald newspaper calls attention to possible employment opportunities in Walpole, Mass. Economists forecast that employers added 155,000 jobs in December, according to a survey by FactSet. That would be slightly higher than November's 148,000. The unemployment rate is projected to remain at 7.7 percent. (AP Photo/Steven Senne, File)
News Summary: December US pending home sales fall
Published: 08:32:33 PM, Mon 28 January 2013 UTC
FEWER CONTRACTS SIGNED: The National Association of Realtors' index of signed contracts to buy homes dropped 4.3 percent in December to 101.7. That's down from a 2 ½ -year high in November.
TIGHT SUPPLY: Sales were held back by a limited supply of available homes, which fell to an 11-year low in December.
TREND IN PLACE: The decline suggests sales will cool off in January. There's generally a one- to two-month lag between a signed contract and a completed sale. Still the broader trend remains solid: Home sales rose in 2012 to their highest level in five years.
Tags:
realtors, national association, news summary, contract, percent, highest level, business, home, sales, home sales, broader trend, index librorum prohibitorum, available homes, 2007 albums, tight supply, home sales fall, signed contracts, fewer contracts, two-month lag, -year high
