Pending home sales in the United States increased 6.3 percent in December compared to November 2008, USA Today reported February 3, 2009.

Pending sales also were up 2.1 percent compared to December 2007. The data comes from the National Association of REALTORS® (NAR). The NAR attributes the gains to more affordable homes.

Pending sale slipped 1.7 percent in the Northeast compared to November.

The NAR's pending sales index tracks signed contracts to purchase existing homes. Typically there is a one- to two-month lag between a contract and a done deal. Home sales that were pending in December likely will close in the coming weeks.

U.S. existing home sales also increased in December.

On the other hand, U.S. new home sales declined dramatically in 2008. 

Read The USA Today Article

Read The NAR Press Release