Sales Contracts For Homes Dip From 19-Month High

By: AP
By: AP

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

The National Association of Realtors says its index of sales agreements fell 3.5 percent last month to a reading of 96.6. That's down from November's reading of 100.1.

But the reading is still the second highest since April 2010, the last month that buyers could qualify for a federal home-buying tax credit.

A reading of 100 is considered healthy.

Contract signings typically indicate where the housing market is headed. There's a one- to two-month lag between a signed contract and a completed deal. But in recent months, a growing number of buyers have cancelled contracts at the last minute.


KKTV firmly believes in freedom of speech for all and we are happy to provide this forum for the community to share opinions and facts. We ask that commenters keep it clean, keep it truthful, stay on topic and be responsible. Comments left here do not necessarily represent the viewpoint of KKTV 11 News.

If you believe that any of the comments on our site are inappropriate or offensive, please tell us by clicking “Report Abuse” and answering the questions that follow. We will review any reported comments promptly.

powered by Disqus
KKTV 520 E. Colorado Colorado Springs, CO 80903 Office: (719) 634-2844 Fax: (719) 632-0808 News Fax: (719) 634-3741
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 138047293 - kktv.com/a?a=138047293
Gray Television, Inc.