December Home Sales Far Weaker Than NAR Pending Home Sales Report Portrayed

The National Association of Realtors (NAR) reported on Monday that (verbatim): "The Pending Home Sales Index, a forward-looking indicator based on contract signings, increased 1.6 percent to 109.0 in December from 107.3 in November. With last month's uptick in activity, the index is now 0.3 percent above last December (108.7)."

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