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December 1, 2015

Pending home sales continue slow pace

  • Wage growth has failed to match the rise in home values, forcing more would-be homebuyers to wait and save for a down payment.
    • By JOSH BOAK
    AP Economics Writer

    WASHINGTON — Slightly more Americans signed contracts to buy homes in October, a modest rebound after two prior monthly declines. The figures add to evidence that the housing market has lost some of its momentum after rapid sales growth earlier this year.

    The National Association of Realtors said Monday that its seasonally adjusted pending home sales index rose 0.2 percent to 107.7 last month. The index has increased 3.9 percent over the past 12 months.


     
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