Nation's pendings hit 19-month high

Pending home sales across the U.S., continued to gain in November and reached the highest level in 19 months, according to the National Association of REALTORS®.

The Pending Home Sales Index increased 7.3 percent to 100.1 in November from an upwardly revised 93.3 in October and is 5.9 percent above November 2010 when it stood at 94.5. The October upward revision resulted in a 10.4 percent monthly gain.

The last time the index was higher was in April 2010 when it reached 111.5 as buyers rushed to beat the deadline for the home buyer tax credit.

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