From Dow Jones & Company:

Pending home sales remained flat in November, according to the National Association of Realtors. Economists were expecting a 1% rise, but year-on-year sales are down 5.2%. Sales were up in the Northeast, Midwest, and West, but dropped in the South. With declining mortgage rates, economists predict a modest rebound in home sales, leading to potential housing inflation. Lawrence Yun, NAR chief economist, noted a surge in interest despite no increase in formal contracts. Stocks opened higher on Thursday in reaction to the news. Overall, pending home sales have been on a downward trend in 2022.



Read more: Pending home sales flat in November despite drop in mortgage rates