Contracts to buy previously owned U.S. homes unexpectedly dropped in December as...
FILE PHOTO: A new apartment building housing construction site is seen in Los Angeles, California, U.S. July 30, 2018. REUTERS/Lucy Nicholson
The National Association of Realtors said on Wednesday its pending home sales index declined 4.9% to a reading of 103.2. November’s index was unrevised. Compared to one year ago, pending sales were up 4.6%. The housing sector has largely regained momentum following a slump in 2018 through the first half of 2019 and its current strength has been supported by low mortgage rates and an unemployment rate near a 50-year low.
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