Purchase contracts on previously owned homes rose 0.8% in November in the U.S., a turnaround from the previous month’s 1.2% fall, data from the National Association of Realtors show.
In the 12 months ended Nov. 30, contracts rose 1.7%, a slowdown from a 2.1% rise the prior month.
Lawrence Yun, chief economist at the National Association of Realtors, said low interest rates and moderate growth in prices was likely to encourage more buyers into the market, and noted that rents were rising at a seven-year high.
Click here for the full Bloomberg article
