Pending home sales fell in December, denoting two straight months of declines, according to the National Association of Realtors. All four major U.S. regions posted both month-over-month and year-over-year drops in contract activity. The Pending Home Sales Index (PHSI) fell 3.8% to 117.7 in December. Year-over-year, transactions decreased 6.9%. An index of 100 is equal to the level of contract activity in 2001.
“Pending home sales faded toward the end of 2021, as a