Pending Home Sales Fall in December

Thursday February 7, 10:00 am ET
By Alan Zibel, AP Business Writer U.S. Pending Home Sales Fall in December to Second-Worst Number on Record, Industry Data Show WASHINGTON (AP) -- Industry data released Thursday show pending U.S. home sales fell 1.5 percent in December to the second-lowest reading on record, another indication that the housing market is worsening.

The National Association of Realtors said its seasonally adjusted index of pending sales for existing homes fell to a reading of 85.9 from a downwardly revised November index of 87.2. The reading was just short of the record low of 85.5 it hit in August, at the peak of the worldwide credit squeeze.