Pending home sales stabilized in November 2013 with a slight gain, according to the National Association of Realtors. Monthly increases in the South and West offset declines in the Northeast and Midwest.
The Pending Home Sales Index, a forward-looking indicator based on contract signings, inched up .2% to 101.7 in November from a downwardly revised 101.5 in October, but is 1.6% below November 2012 when it was 103.3. The data reflect contracts but not closings.