U.S. pending home sales surge to highest in nearly 3 years in November, NAR says

Contracts to purchase previously owned U.S. homes unexpectedly shot to the highest in nearly three years in November, as improving affordability conditions drew in buyers, the National Association of Realtors said on Monday. Pending home sales rose 3.3 per cent last month after an upwardly revised 2.4 per cent gain in October, the NAR said.