A Surprise in Pending Sales Kicks Off 2019


Posted To: MND NewsWire

Expectations were high for a strong pending home sales report to christen the New Year. Those expectations were more than satisfied. The National Association of Realtors® (NAR) says its Pending Home Sales Index (PHSI) jumped 4.6 percent , climbing to 103.2 in January from 98,7 in December. It was the first gain in four months. The surge was not enough however to provide an annual increase. The Index still lags its January 2018 level by 2.3 percent, marking the 13 th straight month of year-over-year losses. The increase held across all four regions, with the largest improvement in the South. Three regions are still lower compared to one year ago, while the Northeast enjoyed a slight growth spurt. The Index is a forward-looking indicator of existing home sales. Contracts signed in January…(read more)

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