Washington, Rabi’II 09, 1436, January 29, 2015, SPA—Fewer Americans signed contracts to purchase homes in December, an industry group reported Thursday, indicating that low mortgage rates have not yet attracted more buyers into the housing market. The National Association of Realtors (NAR) said its index of pending home sales fell 3.7 percent last month to 100.7. The index ended the year below its 2013 average, but the NAR projects sales of existing homes will rebound this year to 5.26 million, a 6.6 percent increase from 2014. Pending sales are a measure of future home purchases. There is a lag of one or two months between a signed contract and a completed home sale. Weak U.S. wage growth and rising home prices limited buying for much of 2014. Affordability pressures should east this year because of strong job gains in recent months as well as declining mortgage rates. --SPA 18:47 LOCAL TIME 15:47 GMT www.spa.gov.sa/w