IE Business Daily Business news for the Inland Empire.
Pending home sales were up month-to-month and year-to-year in California during December, according to data released this week.
Compared to November, pending sales – in which a contract of sale has been signed but the transaction is not yet official – rose 3.3 percent to an index of 117.7, the California Association of Realtors reported.
Year-over-year, pending home sales rose statewide nearly two percent, to an index of 118.1.
Locally, San Bernardino County’s index was up 9.5 percent in December year-over-year, to an index of 50, the largest gain of any Southern California region, the Los Angeles-based association reported.
Riverside County data was not available.
The Pending Home Sales Index is considered an accurate indicator of the overall housing market’s immediate future.
