Contracts to buy homes inch up in December
The number of people completing sales agreements to buy a new home rose slightly in December, a good sign that home sales could be stabilizing going into the spring buying season.
The National Association of Realtors says its seasonally adjusted index of sales contracts rose 1 percent from November to December to a reading of 96.6.
The index has risen for nine out of the last 10 months as buyers rushed to take advantage of an $8,000 first-time home buyer tax credit before its scheduled expiration on November 30.
Congress extended the tax credit to April 30, and added a $6,500 credit for current homeowners.
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