Pending Home Sales Pick Up Steam

Pending home sales picked up steam in October, up 3.5 percent in the National Association of REALTORS® (NAR) Pending Home Sales Index (PHSI). The PHSI posted 109.3 in October, up from 105.6 in September; however, sales were 0.6 percent lower year-over-year. The Index is based on contract signings.
“Last month’s solid increase in contract signings were still not enough to keep activity from declining on an annual basis for the sixth time in seven months,” says Lawrence Yun,