US Pending House Sales Reversed 9-Month Rising Trend in November
US pending house sales reversed a 9-month rising trend in November 2009 according to the latest survey results released by the National Association of Realtors .
In particular, the national index measuring contract activity for pending home sales dropped in November 2009 16% from its October level, reversing a trend of uninterrupted monthly increases since February 2009. Contract activity for US home sales though was still up 15.5% compared to its October 2008 level.
All US regions, but the West, registered double-digit monthly decreases in pending house sales in November 2009. The Northeast and the Midwest were the worst performing regions as pending house sales dropped 26% in both areas.
The West was the "best" performing region as pending home sales posted a monthly drop of only 3%. Pending home sales in the South dropped 15% in November 2009.
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