Pending home sales decline

Pending home sales declined in December as inventory tightened, but they were up compared to a year earlier, according to a national index released Monday.

The National Association of Realtors said its pending home sales index fell 4.3 percent, compared to the previous month, to 101.7, but was up 6.9 percent from December 2011. An index level of 100 is considered a healthy level of pending sales.

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