Sales of U.S. Homes Beat the Forecasts

From Bloomberg - By Timothy R. Homan - Dec 29, 2011 7:00 AM PT

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The number of Americans signing contracts to buy previously owned homes rose more than forecast in November as falling prices and low borrowing costs boosted demand.

The industry that triggered the 18-month recession that ended in June 2009 is showing signs of stabilizing as construction (CNSTTMOM) picks up, builder confidence improves and the number of houses on the market declines. Nonetheless, another wave of foreclosures may weigh on real-estate values next year.

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