Summary Box: Contracts to buy US homes rises

SALES RISE: The number of Americans who signed contracts to buy homes in November rose more than 7 percent to the highest level in a year and a half, the National Association of Realtors said Thursday.

CANCELATIONS UP: A growing number of buyers are canceling their contracts at the last minute, making the gauge less reliable, the Realtors' group said. Contract signings usually indicate where the housing market is headed.

HEALTHY LEVEL: A reading of 100 is considered healthy. November's 100.1 index was the first time it hit that threshold since a federal home-buying tax credit expired in April 2010.

The Associated Press


