U.S. pend­ing home sales fell in Novem­ber. Fewer Amer­i­cans signed

The Denver Post - - BUSINESS -

con­tracts to buy homes in Novem­ber. The de­crease likely re­flects the drag caused by ris­ing mort­gage rates and the shal­low in­ven­tory of prop­er­ties on the mar­ket.

The Na­tional As­so­ci­a­tion of Real­tors said Wed­nes­day that its sea­son­ally ad­justed pend­ing home sales in­dex fell 2.5 per­cent to 107.3, the low­est read­ing since the start of 2016. Pend­ing sales de­clined in the Mid­west, South and West, while im­prov­ing in the North­east.

The slow­down marks a re­ver­sal for the hous­ing mar­ket, as sales growth has been solid for the past year.

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