The data for 2015 is now in the books after this morning’s release of December Pending Home Sales, which were up modestly (0.1 percent) because of a strong gain in the Northeast.
Why the sizable increase in the Northeast? Mild weather conditions in December and more favorable supply levels compared to other parts of the country led to more buyer traffic.
Overall, a resilient U.S. economy and very solid job growth in recent years made 2015 a great rebound year for the housing market. Existing-home sales were at the highest pace (5.26 million) since 2006 (6.48 million) and the Pending Home Sales Index came in at an average of 108.8, the highest annual reading since…you guessed it: 2006 (111.7).
Just how far has housing rebounded since the early stages of the economic recovery? Check out the two charts below on existing sales and contract signings since 2011.