November’s pending home sales improved from October levels
and posted the third consecutive year-over-year gain and the largest one in
over a year. The National Association of
Realtors® (NAR) said
the increase, while not large, was felt in every region but the Midwest.
The NAR’s November Pending Home Sales Index (PHSI) was up
0.8 percent from October’s slightly down-graded level of 104.0 to 104.8. That was a 4.1 percent gain from the PHSI of
100.7 in November 2013, the largest such improvement since August 2013 when the
index jumped 5.6 percent.