Pending home sales rise for month from 2011


WASHINGTON — The National Association of Realtors reported Friday that its seasonally adjusted pending home sales index rose 1.7 percent in November from October to 106.4. That’s the highest since April, 2010, when a homebuyer tax credit caused a spike in sales.

In Ohio, the pending home sales index rose for the 19th consecutive month compared to the results from the prior year.

November’s index of 154.9 was 14 percent higher than a year earlier.

The lag between a signed contract and a completed sale is generally one to two months.