Posted To: MND NewsWire
Pending home sales bounced back in September after falling by 2.5 percent in August the National Association of Realtors® (NAR) said on Thursday. NAR's Pending Home Sales Index (PHSI), a measure based on contracts signed for existing home purchases, rose 1.5 percent in September to 110.0 from 108.4 (revised from 108.5) in August. NAR's Chief Economist Lawrence Yun said a robust increase in the West and a healthy bump in the South more than compensated for declines in the other two regions. With last month's gain, the index is now 2.4 percent higher than last September (107.4) and has now risen year-over-year for 22 of the last 25 months. Analysts polled by Econoday had estimated pending sales would come in on the positive side with a range of 0.5 to 2.5 percent. The consensus was a 1.0...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
from Mortgage News Daily http://ift.tt/2faU1td
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