Dec. 28 - Pending home sales hit two-and-a-half year high in November. Jeanne Yurman reports.
The daily digit today is 1.7. That's the percentage that new contracts to buy previously owned U.S. homes jumped last month, according to the National Association of Realtors. It is the highest level since April 2010 when the home-buyer tax credit expired. Home resale contracts were up in three of the country's four regions. They were unchanged in the South. It is yet another piece of data suggesting that the housing market has turned the corner. Home sales and prices are also rising, encouraging builders to undertake new construction projects. All of this welcome developments after a dramatic collapse in housing which dragged the economy through its worst recession since the 1930s.