(Washington, DC) — Pending home sales surged in November.
According to the National Association of Realtors, the number of homes under contract rose three-point-three-percent thanks to lower mortgage rates. Pending home sales increased two-point-six percent on a yearly basis. The group’s chief economist says the data shows “homebuyer momentum is building.”
Improving affordability and more inventory helped drive the housing market’s best performance in nearly three years.
