NAR released a summary of pending home sales data showing that December’s pending home sales pace increased 2.5% last month but fell 33.8% from a year ago.
All of the four regions showed double-digit declines from a year ago. The West had the largest dip of 37.5%, followed by the South with a drop in contract signings of 34.5%. The Northeast fell 32.5%, followed by the Midwest, with the smallest decline of 30.1%.
From last month, two of the four regions showed inclines in contract signings. The West region had the largest gain of 6.4%, followed by the South with an increase of 6.1%. The Northeast had the largest dip of 6.5%, followed by the South with a modest decrease of 0.3%.
The U.S. pending home sales index level for the month of December was 76.9. November’s pending sales figures were revised to 75.0