• NAR released a summary of pending home sales data showing that September’s pending home sales are up 1.5 percent from last month and also up 2.4 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 increases from a year ago except the Midwest, which had a decrease of 1.0 percent. The Northeast saw the biggest incline from a year ago at 7.7 percent while the South had the smallest incline of 1.7 percent. The West had an incline of 4.0 percent.
  • From last month, the West had the largest increase at 4.7 percent. The South followed with an increase of 1.9 percent. The Northeast had the biggest decline of 1.6 percent. The Midwest also had a decline of 0.2 percent.
  • The pending home sales index level was 110.0 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.

phs regionphs months

Powered by WPeMatico