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Economy in Brief

U.S. Pending Home Sales Recover Sharply
by Tom Moeller November 30, 2011

The National Association of Realtors (NAR) reported that pending sales of existing single-family homes jumped 10.4% last month to the highest level since November 2010. The sharp rise in sales reflected m/m strength across the country, except in the West.

Pending home sales figures are analogous to the new home sales data from the Commerce Department in that they measure existing home sales when the sales contract is signed, not at the time the sale is closed. The series dates back to 2001 and the data is available in Haver's PREALTOR database.

Pending Home Sales (2001=100)  Oct Sep Aug Y/Y % 2010 2009 2008
Total 93.3 84.5 88.6 9.1 89.4 94.5 87.0
 Northeast 71.3 60.6 63.6 3.3 71.6 76.6 73.5
 Midwest 88.7 71.5 76.2 13.3 80.3 88.6 81.1
 South 99.5 91.6 96.9 9.7 97.0 98.0 89.8
 West 105.5 105.8 108.1 8.1 100.8 109.3 99.4
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