Pending Homes Sales Increase 1.2% in November

The National Association of Realtors® (NAR) has reported that pending home sales increased in November, rebounding from the month of October’s decline. The West region reported the highest growth last month, while the other 3-major U.S. regions saw only marginal variances. The NAR Pending Home Sales Index, which is a forward-looking indicator based on contract signings, not actual closings, rose 1.2% to 108.5 in November. Year-over-year contract signings jumped 7.4%