Pending Home Sales Stall

Pending home sales stalled in July, down 0.8 percent in the National Association of REALTORS® (NAR) Pending Home Sales Index (PHSI). The PHSI posted 109.1 in July, down from 110.0 in June. The Index is based on contract signings.“With the exception of a minimal gain in the West, pending sales were weaker in most areas in July as house hunters saw limited options for sale and highly competitive market conditions,” says Lawrence Yun, chief economist at NAR. “The housing marke