Pending Homes Sales Up in December

Washington, DC, Feb. 2, 2010--Pending home sales rose 1% in December, according to the National Association of Realtors, but were much higher than a year ago.

The  index rose in December after plunging 16.4% in November. The index is up 10.9% compared with December 2008. The gain in the pending sales index portends a similar gain in existing home sales for January, which will be reported in three weeks.