• NAR released a summary of pending home sales data showing that August’s pending home sales are down 2.4 percent from last month and also slipped 0.2 percent from a year ago.
  • Pending sales are homes that have a signed contract to purchase on them but have yet to close. They tend to lead existing-home sales data by 1 to 2 months.
  • All regions showed decreases from a year ago except the Northeast, which had an increase of 5.9 percent. The Midwest saw the biggest decline from a year ago at 1.7 percent while the West had the smallest decline of 0.6 percent. The South had a decline of 1.5 percent.
  • From last month, the Northeast had the largest increase at 1.3 percent. The Midwest had the smallest decline of 0.9 percent. The South followed with a decline of 3.2 percent and the West had the largest decline of 5.3 percent.
  • The pending home sales index level was 108.5 for the US.
  • The 100 level is based on a 2001 benchmark and is consistent with a healthy market and existing home sales above the 5 million mark.

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