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Pending Sales Surge in the Northeast After October’s strong 3.5 percent monthly gain, pending home sales managed a slight, 0.2 percent gain in November. The gain suggests existing home sales.

NEW YORK (TheStreet) — Contracts signed to purchase previously owned homes edged up slightly in November after declining. Economists expected the index to rise 1.5% according to consensus.

Pending home sales reversed course again last month, rising slightly and regaining the loss posted in October, the National Association of Realtors said in its pending home sales index report.

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The Pending Home Sales Index rose 0.2% to 109.5 in November from 109.3 in October. With last month’s modest increase, the index remains at its highest reading since June (110.0), and is now 0.8% above a year ago.

The Pending Home Sales Index, a forward-looking indicator based on contract signings, rose 0.2% to 109.5 in November from 109.3 in October. With November’s modest increase, the index remains at its highest reading since June (110.0), and is now 0.8% above a year ago.

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U.S. pending home sales fall unexpectedly in November 2 Min Read A home for sale that is currently under contract is seen in Silver Spring, Maryland, December 30, 2015.

U.S. pending home sales rise modestly in November 1 Min Read An advertisement for a reduced price is seen outside of a home for sale in Dallas, Texas September 24, 2009.

By Alister Bull WASHINGTON (Reuters) – Contracts to purchase previously owned U.S. homes edged up in November, marking the first increase in six months and providing a hopeful sign the sector has begun to stabilize after its momentum was sapped by rising mortgage rates. The National Association of Realtors

The level of pending sales in the United States edged up slightly in December, according to the National Association of Realtors. The organization said it is predicting a slight increase in sales.