Washington, DC, Dec. 30, 2013 -- Pending home sales increased slightly November, according to the National Association of Realtors.
It was the first gain in six months.
The index of pending home sales increased 0.2% last month to 101.7, slightly above a 10-month low of 101.5 in October. However, it was down from 103.3 in November 2012.
"We may have reached a cyclical low because the positive fundamentals of job creation and household formation are likely to foster a fairly stable level of contract activity in 2014," said NAR economist Lawrence Yun in a press release.