Pending home sales rose 2.2% in November, marking fourth consecutive month of increases

From GlobeNewswire: 2024-12-30 10:00:00

Pending home sales in November rose by 2.2%, marking the fourth consecutive month of increases. The Midwest, South, and West all saw month-over-month gains, while the Northeast declined. Year-over-year, contract signings increased in all four U.S. regions, with the West showing the largest jump. The Pending Home Sales Index (PHSI) increased by 2.2% to 79.0 in November, with pending transactions up 6.9% from the previous year. Lawrence Yun, NAR Chief Economist, noted that buyers are adjusting to mortgage rate expectations and benefiting from more inventory availability. Regional breakdowns show varying levels of improvement, with the South leading at 5.2% growth.



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