In a sign that the housing recovery may still have a few more bumps in the round, pending sales of existing homes in the U.S. decreased in December for the first time since last August, Bloomberg reports:
The index of contracts for the purchase of previously owned homes fell 4.3 percent to 101.7 after a revised 1.6 percent increase, the National Association of Realtors reported today in Washington. The median forecast in a Bloomberg survey projected no change in the gauge. Compared with a year earlier, pending sales before seasonal adjustment climbed 4.9 percent.
