(RTTNews) - Pending home sales fell by much more than expected in the month of November, according to a report released by the National Association of Realtors on Tuesday, with the decrease coming in the face of job losses and an eroding economy.

The report showed that the Pending Home Sales Index fell 4.0 percent to 82.3 in November from a downwardly revised reading of 85.7 in October. Economists had been expecting a much more modest decease by the index of about 1.0 percent.

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