February 3, 2009
Pending Home Sales Up 6.3% In December
By Matthew L. Brown
Lower mortgage rates and falling prices prompted a 6.3 percent increase in the number of sales contracts on existing homes during December, according to the National Association of Realtors.
The association said the increase in signed contracts should result in "healthy" sales totals for January and February. It typically takes a month or two for a sale to close once a contract is signed.
The association said sales increased most in the South and Midwest, but declined in the Northeast and West.
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