National Pending Sales Figures Tumble Pending home sales across the U.S. dropped in December to the lowest point since October The National Association of REALTORS ® (NAR) reports its seasonally adjusted pending home sales index dropped 8.7 percent in December to That's the seventh straight monthly decline for the index, a good indicator of future sales. A one- to two-month lag usually exists between a signed contract and a completed sale. "Unusually disruptive weather across large stretches of the country in December forced people indoors and prevented some buyers from looking at homes or making offers," said Lawrence Yun, NAR chief economist. He added: "Home prices rising faster than income is also giving pause to some potential buyers, while at the same time a lack of inventory means insufficient choice. Although it could take several months for us to get a clearer read on market momentum, job growth and pent-up demand are positive factors." Biggest drop was in the west, where the index fell 9.8%in December to 85.7, and is 16.0% below December Best performance was in the Midwest, where the index declined 6.8% to 93.6 in December, and is 6.9% lower than December 2012.

Weekly HAR Market Stat Optimistic housing start stats encourage rumors that 2014 should be another year of recovering. Activity may not be volatile enough to garner bold headlines, which suits residential real estate markets just fine. The steady-as-she-goes pace and quietly consistent good news should bring out a few more previously underwater sellers to list their homes. Keep an eye out for fresh inventory and keen interest from hungry buyers. In the Houston region, for the week ending January 26: New Listings decreased 1.0% to 1,941 Pending Sales increased 22.3% to 1,660 Closed Sales decreased 6.1% to 812

ext. 6 Get a New Lease on Learning Leasing 101: Understanding the Basics of Leasing While real estate licensees are authorized to represent clients in lease transactions, few licensees perform lease transactions with any regularity. As a result, when a client comes to licensees for representation on a lease, many licensees are not equipped to offer adequate service to their clients. This course is designed for the real estate licensee who needs the fundamentals of leasing representation. Students will learn how to adequately represent landlords and tenants and be taught how to use forms associated with applying for lease agreements. Please be on time as class starts promptly at 9 a.m. Date: Friday. February 14 Time: 9 a.m. – 4 p.m. Location: HAR Central Investment: $39