Contract Signings For US Homes Up In November

By: AP
By: AP

WASHINGTON (AP) -- The number of Americans who signed contracts to buy homes in November rose to the highest level in a year and a half.

Normally, that would signal better home sales. But a growing number of buyers are canceling their contracts at the last minute, making the gauge less reliable.

The National Association of Realtors says its index of sales agreements jumped 7.3 percent last month to a reading of 100.1.

A reading of 100 is considered healthy. The last time the index was that high was in April 2010, one month before a federal home-buying tax credit expired.

Contract signings usually indicate where the housing market is headed. There's a one- to two-month lag between a signed contract and a completed deal.


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  • by Anonymous on Dec 29, 2011 at 11:09 AM
    Please let home prices go up. We want to sell and get away from rediculous restrictive covenants. There should be laws against hoas and covenants sending notices for ONE WEED. That's right, one weed so small she actually needed to GET HER GIANT REAR OUT OF THE CAR TO SEE.
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