Pending Home Sales Rise Again in November, Highest in a Year-and-a-Half

Washington, DC – December 29, 2011 – (RealEstateRama) — Pending home sales continued to gain in November and reached the highest level in 19 months, according to the National Association of Realtors®. The Pending Home Sales Index,* a forward-looking indicator based on contract signings, increased 7.3 percent to 100.1 in November from an upwardly revised 93.3 in October and is 5.9 percent above November 2010 when it stood at 94.5. The October upward revision resulted in a 10.4 percent monthly gain.