Pending home sales increased 0.1 percent to 106.8 in December from 106.7 in November, and were 4.2 percent above December 2014, according to the National Association of Realtors.
Declining home sales in the Midwest (1.1 percent), South (0.5 percent) and West (2.1 percent) were offset by an increase of 6.1 percent in the Northeast.
“Warmer than average weather and more favorable inventory conditions compared to other parts of the country encouraged more households in the Northeast to make the decision to buy last month,” said Lawrence Yun, NAR chief economist, in a statement. “Overall, while sustained job creation is spurring more activity compared to a year ago, the ability to find available homes in affordable price ranges is difficult for buyers in many job creating areas.”
