28 January 2013, 19:47  USA, NAR: December pending home sales fall to -4.3%

The National Association of Realtors informed Monday on sharp decrease of December pending home sales to -4.3%.
Despite the recent decline, pending sales were 6.9% higher than during December 2011.
NAR reported on pending home sales index fall to 101.7 in December vs106.3 in November.
"Supplies of homes costing less than $100,000 are tight in much of the country, especially in the West, so first-time buyers have fewer options," said NAR's chief economist. "We expect a seasonal rise of inventory in the spring to help, but a seller's market may be developing."
By region, December saw pending home sales decline of 8.2% in the West, 5.4% in the Northeast and 4.5% in the South. There was a gain of 0.9% in the Midwest.
A reading of 100 equals the average level of contract activity in 2001, when NAR started tracking these data.

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