A record 19 million U.S. houses stood empty at the end of 2008 as homes went into foreclosure faster than banks could sell them and prices continued to fall.

Vacant homes in the fourth quarter increased by 6.7% the same period a year ago, the US Census Bureau said today. The vacancy rate, the share of empty homes for sale, rose to 2.9% in the quarter, the most in data that goes back to 1956.

US banks owned $11.5 billion of homes they seized from delinquent borrowers at the end of the third quarter, according to the Federal Deposit Insurance Corp. in Washington - up from $5.4 billion a year ago.

More Americans signed contracts to buy previously owned homes in December for the first time in four months, signaling slumping prices from foreclosure sales, may be boosting demand.

The index of pending home resales climbed 6.3% to 87.7, the first increase since August, from a revised 82.5 in November, the National Association of Realtors said in a report today in Washington. Pending sales rose in two of four regions.

US banks owned $11.5 billion of homes they seized from delinquent borrowers at the end of the third quarter, according to the Federal Deposit Insurance Corp. in Washington - up from $5.4 billion a year ago.

There are some signs of a bottoming out in the housing market as more Americans signed contracts to buy previously owned homes in December for the first time in four months, signaling slumping prices from foreclosure sales.

The index of pending home resales climbed 6.3% to 87.7, the first increase since August, from a revised 82.5 in November, the National Association of Realtors said in a report today in Washington. Pending sales rose in two of four regions.

NAR’s Housing Affordability index rose 10.9 percent in December to 158.8, the highest on record. The HAI shows that the relationship between home prices, mortgage interest rates and family income is the most favorable since tracking began in 1970.