Pending Home Sales Edge Up

Pending home sales edged up in December, 0.5 percent in the National Association of REALTORS® (NAR) Pending Home Sales Index (PHSI). The PHSI posted 110.1 in December, up from 109.6 in November. The Index is based on contract signings.Two of the four major regions in the U.S. saw increases in the PHSI in December, with the South up 2.6 percent to 126.9 and the West up 1.5 percent to 101.7. The Northeast and Midwest saw decreases, down 5.1 percent to 93.9 and 0.3 percent to 105.0, respectivel