US home sales posts second-lowest monthly reading in 20 years. On a year-over-year basis, pending home sales plummeted 37.8 percent, down from the 37 percent decline in the previous month. Trading Economics had projected a print of negative 32 percent. With mortgage rates falling throughout December, home-buying activity should inevitably rebound* in the coming months and help economic growth, says NAR's Lawrence Yun.
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