April 18, 2024 12:59 am
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Pending sales rise, signal impressive demand

screen-shot-2016-10-29-at-4-54-48-pmBy Jann Swanson | Mortgage News Daily

Pending home sales bounced back in September after falling by 2.5 percent in August the National Association of Realtors® (NAR) said on Thursday. NAR’s Pending Home Sales Index (PHSI), a measure based on contracts signed for existing home purchases, rose 1.5 percent in September to 110.0 from 108.4 (revised from 108.5) in August.

NAR’s Chief Economist Lawrence Yun said a robust increase in the West and a healthy bump in the South more than compensated for declines in the other two regions. With last month’s gain, the index is now 2.4 percent higher than last September (107.4) and has now risen year-over-year for 22 of the last 25 months.

Continued:

Related: Blame Student Loans for Homebuying Trends? Not So Fast!

New Home Sales Relatively Strong, Despite Downward Revision

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