| American house prices could rise up to 5% in 2013, says a top industry association economist. The comments from Lawrence Yun, chief economist with the National Association of Realtors, came as November 2012’s showed a 9.8% year-on-year rise.
The figures from the forward-looking Pending Home Sales Index rose 1.7% to 106.4 in November from 104.6 in October. The data reflect contracts signings but not closings. For each of last 19 months the year-on-year figures have risen and the index has reached the highest level since April 2010, were boosted by changes in household formations, says Mr Yun...............................................Full Article: Source
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