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Pending Home Sales Fall Due to Dwindling Supply

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A model home sits for sale in Carlsbad, California. REUTERS/Mike Blake

Signed contracts to buy existing homes fell 4.3 percent in December from the previous month, according to a monthly index from the National Association of Realtors. That missed analysts’ expectations of a one┬ápercent gain. The index is 6.9 percent higher than December of 2011. Realtors say it is not lack of demand but supply at the end of 2012 that pushed the numbers down.

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