Pending home sales declined in November, according to a new National Association of Realtors (NAR) report. Month-over-month contract activity fell in each of the four major U.S. regions.
The Pending Home Sales Index (PHSI) fell 2.6 percent to 125.7 in November, the third straight month of decline. Year-over-year, contract signings climbed 16.4 percent. An index of 100 is equal to the level of contract activity in 2001.
Read on to learn more from NAR.