By Diana Olick | CNBC
There may be fewer and fewer homes for sale, but where they are flying off the shelves is out West.
A monthly index measuring signed contracts to purchase a home rose 1.5 percent monthly in September, according to the National Association of Realtors (NAR). August’s reading, which already showed a decline, was revised down further. These so-called “pending” home sales are now 2.4 percent higher than September of 2015.