Pending sales recover but annual gain shrinks

Pending sales

Pending sales By Jann Swanson | Mortgage News Daily

Countering an earlier disappointing report on existing home sales in February, pending home sales reached their highest levels in seven months countering an earlier disappointing report on existing home sales in February, pending home sales reached their highest levels in seven months. The National Association of Realtors® said that its Pending Home Sales Index (PHSI), a measure based on signed home purchase contracts, rose 3.5 percent in February.

This followed both a January PHSI that dropped by 2.5 percent (and was revised down further today) and last week’s report on February existing home sales that fell 7.1 percent. The PHSI is a forward-looking indicator that is generally expected to predict future home sales. Contract signings generally result in closed transactions in about two months.

Continued:

Share this!

Additional Articles

News Categories

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.