Pending Home Sales Edge Up

Pending home sales stabilized in November with a slight gain, according to NAR.

NAR Chief Economist Lawrence Yun explains: “We may have reached a cyclical low because the positive fundamentals of job creation and household formation are likely to foster a fairly stable level of contract activity in 2014. Although the final months of 2013 are finishing on a soft note, the year as a whole will end with the best sales total in seven years.”

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