According to builderonline, the National Association of Home Builders (NAHB) reports the National Association of Realtors (NAR) Pending Home Sales Index (PHI) slipped 0.9 percent from Oct., although it is still 2.7 percent ahead of last year at this time. The drop is considered to be more seasonal than substantive.
As MHProNews reported Dec. 22, 2015, sales of existing homes dropped precipitously in Nov. 2015, falling 10.5 percent, partially attributed to the new Know Before You Owe regulations that are causing some closings to be delayed 30-60 days.
Regardless, the falling of the unemployment rate and improving economic conditions signals that the housing recovery continues. ##
(Photo credit: Associated Press/Paul Sakuma)
Article submitted by Matthew J. Silver to Daily Business News-MHProNews.