by Calculated Risk on 1/08/2008 10:03:00 AM

From MarketWatch: Pending home sales sink 2.6% in November

Sales contracts on previously owned U.S. homes fell by 2.6% in November, a sign that home sales will continue to decline. The pending home sales index, based on contracts signed but not closed in November, fell 2.6% in November and was down 19.2% in the past year, the National Association of Realtors reported Tuesday.