U.S. pending home sales go flat in November

Wall Street Journal

According to the National Association of Realtors, U.S. pending home sales were mostly unmoved in November 2017, but did squeak out a minor gain both on a monthly and annualized basis. Heading into 2018, existing-home sales and price growth are forecast to slow, primarily because of the altered tax benefits of homeownership affecting some high-cost areas.

The Pending Home Sales Index, a forward-looking indicator based on contract signings, rose 0.2 percent to 109.5 in November from 109.3 in October. With last month’s modest increase, the index remains at its highest reading since June (110.0), and is now 0.8 percent above a year ago.

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December 28, 2017

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