FILE- In this March 28, 2018, photo file photo an under contract sign is shown outside a single-family home on the market in Denver. On Wednesday, Jan. 30, 2019, the National Association of Realtors releases its December report on pending home sales, which are seen as a barometer of future purchases. (AP Photo/David Zalubowski, File)

US pending home sales fell 2.2 percent in December

January 30, 2019 - 9:02 am

WASHINGTON (AP) — Fewer Americans signed contracts to buy homes in December with affordability pressures causing interest from would-be buyers to fall.

The National Association of Realtors says its pending home sales index fell 2.2 percent last month to 99, its lowest reading since April 2014. The index based on contract signings has plunged 9.8 percent over the past 12 months.

The index fell in the Northeast, Midwest and South in December. But contract signings increased in the West region, which is among the priciest in the country and has witnessed a severe decline in sales over the past year as a result.

Pending sales are a barometer of home purchases that are completed a month or two later.

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