The National Association of Realtors says pending U.S. home sales rebounded in December. Buyers are purchaing properties at deep discounts, especially in the South and Midwest. "It beats renting" many a purchaser remarked. The

The trade group index tracks signed contracts to purchase existing homes. Typically there is a one- to two-month lag between a contract and a finished deal. The bottom line on home sales that were pending in December is that they are likely to be completed in the coming weeks.

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