KAKE - Money - Headlines

Sales Contracts For Homes Dip From 19-Month High

By: Associated Press
By: Associated Press

Stay up-to-date with KAKE News:

Wednesday, January 25, 2012

The number of Americans who signed contracts to buy homes fell in December after hitting the highest level in a year and a half.

The National Association of Realtors says its index of sales agreements fell 3.5 percent last month to a reading of 96.6. That's
down from November's reading of 100.1.

But the reading is still the second highest since April 2010, the last month that buyers could qualify for a federal home-buying tax credit.

A reading of 100 is considered healthy.

Contract signings typically indicate where the housing market is headed. There's a one- to two-month lag between a signed contract
and a completed deal. But in recent months, a growing number of buyers have cancelled contracts at the last minute.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
KAKE TV 1500 N. West Street Wichita, KS 67203-1323 (316) 943-4221
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 138040998 - kake.com/a?a=138040998