Pending home sales rose 2.0% in December for the fifth increase in the past six months, according to an index released Thursday. The National Association of Realtors said its pending home sales index rose to 93.7 from a downwardly revised 91.9 in November. The index is still 4.2% below the level in December 2009, however.
The data reflects contracts and not closings, which normally occur with a lag time of one or two months. The index is based on a large national sample, typically representing about 20% of transactions for existing-home sales.
A 2.0% rise is not a huge number, but it is a step in the right direction. I can say that the Montreux real estate market has seen an increase in activity!