Weather, Prices Depress Pending Home Sales

Washington, DC, Jan. 30, 2014 -- Pending home sales fell in December by 8.7%, according to the National Association of Realtors.

That was the lowest level in more than two years.

The index of pending home sales fell to 92.4, the lowest reading since October 2011.

NAR said poor weather and rising prices likely resulted in depressed sales.

All four U.S. regions saw pending home sales fall in December.