US pending home sales hit 21-month high in November

WASHINGTON, D.C.: Notching a fourth straight month of gains, contracts to buy previously owned homes in the U.S. rose more than expected in November as buyers focused on taking advantage of improved inventory despite stubbornly high mortgage rates.

The National Association of Realtors (NAR) reported that its Pending Home Sales Index, which tracks signed contracts, rose 2.2 percent in November to 79.0, the highes