Pending Home Sales Slip, Trampled by West

For the housing market, gaining ground is proving to be a struggle.
On an annual basis—and for the eighth month in a row—pending home sales slipped, according to the August National Association of REALTORS® (NAR) Pending Home Sales Index (PHSI). Activity backtracked 1.8 percent month-over-month and 2.3 percent year-over-year.
According to the Index, activity contracted in all of the regions in the U.S. In the Midwest, activity declined 0.5 percent from July, and 1.1 percent