Pending home sales take what they can get

Mortgage News Daily

Pending home Sales eked out a 0.1 percent gain in October. The National Association of Realtors® said its Pending Home Sales Index (PHSI) barely managed a second straight month of gains, rising to 110.0 from a downwardly revised 109.9 in September (the previous reading was 110.0, which would have made today’s reading “unchanged,” officially). Even though NAR’s chief economist Lawrence Yun called the increase “minuscule,” it still pushed the index to its highest level since last July. The index was also 1.8 percent higher than In October 2015 when it stood at 108.1.

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