Skip to main content

Pending Home Sales on the Upswing

Phil Hall
Sep 26, 2019
Pending home sales were on the rise in August, according to new data from the National Association of Realtors (NAR)

Pending home sales were on the rise in August, according to new data from the National Association of Realtors (NAR).
 
The trade group’s proprietary Pending Home Sales Index (PHSI) rose by 1.6 percent to 107.3 in August, reversing the prior month’s decrease, while the year-over-year level was up by 2.5 percent. All regional indices are up from July: The PHSI in the Northeast increased by 1.4 percent to 94.3, the Midwest index inched up by 0.6 percent to 101.7, the index for the South increased 1.4 percent to 124.4 and the index in the West grew 3.1 percent to 96.4.
 
“It is very encouraging that buyers are responding to exceptionally low interest rates,” said Lawrence Yun, NAR chief economist. “The notable sales slump in the West region over recent years appears to be over. Rising demand will reaccelerate home price appreciation in the absence of more supply.”
Pending home sales were on the rise in August, according to new data from the National Association of Realtors (NAR)

 
Published
Sep 26, 2019
DOJ: Lakeland Bank To Spend $13M To Settle 'Redlining' Claims

Agreement with N.J. bank is the third-largest redlining settlement in Justice Department history.

Industry News
Sep 29, 2022
Angel Oak Layoffs Add To Growing List Of Non-QM Cuts

About 20% of its staff, or 75 people, were affected.

Industry News
Sep 28, 2022
Redwood Trust Names New Chief Investment Officer

Also announces planned CoreVest leadership transition to be completed on 3rd anniversary of acquisition

Industry News
Sep 27, 2022
Fannie Mae Pilot Program Seeks To Help Improve Renters' Credit

Renters, including historically underserved groups, will benefit from paying on time each month.

Industry News
Sep 27, 2022
Suffolk County Data Breach Puts Contracts On Back Burner

Cyberattack beginning Sept. 8 prevents title services from closing loans.

Tech
Sep 27, 2022
Nations Lending Opens Another Branch In Arizona

New Scottsdale branch welcomes Arizona native Christine McConnell as lead personal mortgage advisor.

Industry News
Sep 26, 2022