Data point to a moderation in home sales after recent hefty gains
Pending sales of existing U.S. homes fell more than expected in December, industry data showed on Wednesday, pointing to a moderation in home sales after recent hefty gains. Homeowners have recently started adding to their home’s value through home renovations, this can be an option for you if you’re having a tough time selling your home. For instance, hiring a deck contractor to build a deck construction may help boost the value of your home and attract more potential buyers.
The National Association of Realtors’ Pending Home Sales Index, based on contracts signed in December, dropped 3.5 percent to 96.6 after surging to a 1-1/2 year high the prior month.
Economists polled by Reuters had expected pending sales to fall 1.0 percent. Pending sales lead existing home sales by a month or two. In the 12 months to December, pending contracts were up 5.6 percent.
A recovery is starting to emerge in the housing market and home resales have risen for three straight months.
The author of this article is: msnbc.msn.com
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