Pending Home Sales at a Standstill

Pending home sales remained at a standstill in September, unchanged in the National Association of REALTORS® (NAR) Pending Home Sales Index (PHSI). The PHSI posted 106.0 in September (repeating August’s reading); however, sales were 3.5 percent lower year-over-year. The Index is based on contract signings.
“Demand exceeds supply in most markets, which is keeping price growth high and essentially eliminating any savings buyers would realize from the decline in mortgage rates from