US pending home sales jump 3.3% in November

U.S. pending home sales increased 3.3% month-over-month and 2.6% year-over-year in November. The monthly gain marks the strongest performance for the index, after seasonal adjustment, in nearly three years, according to the National Association of Realtors (NAR).

All four major regions recorded increases in contract signings both for the month and compared to one year ago. The association's latest confidence survey indicates that 22% of its members expect buyer traffic to rise over the next three months, up from 17% in October. Meanwhile, 18% of members anticipate an increase in seller traffic.