April 19, 2024 7:43 pm
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Pending home sales highest in 13 months

Pending-home-salesBy Jann Swanson | Mortgage News Daily

Pending home sales, while increasing only slightly in September, exceeded those of a year earlier, the first time in 11 months this has occurred. The National Association of Realtors® (NAR) also said that its Pending Home Sales Index (PHSI), which rose 0.3 percent to 105.0 is at its second-highest level since last August.

The index is a forward indicator based on contracts signed for the purchase of a home. The September reading is 1.0 higher than in September 2013 and it is the fifth consecutive month in which the PHSI has exceeded 100. Contract signings are generally expected to turn into home sales within 60 to 90 days.

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.