Connect With PPD
Follow Us:
Economy

Pending Home Sales Index (PHSI) Inches Higher in September

Home for sale sign (Realtors) and potential exiting and pending home sales contract. (PHOTO: REUTERS)

The National Association of Realtors (NAR) said Thursday its Pending Home Sales Index (PHSI) increased 1.5% to 110.0, up from a slight downward revision of 108.4.

“Buyer demand is holding up impressively well this fall with Realtors® reporting much stronger foot traffic compared to a year ago 1,” Lawrence Yun, NAR chief economist said. “Although depressed inventory levels are keeping home prices elevated in most of the country, steady job gains and growing evidence that wages are finally starting to tick up are encouraging more households to consider buying a home.”

The PHSI in the Northeast declined 1.6% to 96.5 in September, but is 7.7% higher on the year. In the Midwest, it fell slightly by 0.2% to 104.6 and is now just 1.0% lower than September 2015.

Pending home sales in the South increased 1.9% to an index of 122.1 and are 1.7% higher than last year. The index in the West gained 4.7% to 107.3 and is 4.0% higher on a year-over-year basis.

[brid video=”71176″ player=”2077″ title=”Contract Signings Post Small Gain in September”]

READ FULL STORY

SubscribeSign In
PPD Business Staff

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

Share
Published by
PPD Business Staff

Recent Posts

Media’s Worst Russian Collusion Sins May Soon Be Repeated

The most damning journalistic sin committed by the media during the era of Russia collusion…

1 year ago

Study: Mask-Mandates and Use Not Associated With Lower Covid-19 Case Growth

The first ecological study finds mask mandates were not effective at slowing the spread of…

3 years ago

Barnes and Baris on Big Tech’s Arbitrary Social Media Bans

On "What Are the Odds?" Monday, Robert Barnes and Rich Baris note how big tech…

3 years ago

Barnes and Baris on Why America First Stands With Israel

On "What Are the Odds?" Monday, Robert Barnes and Rich Baris discuss why America First…

3 years ago

Personal Income Fell Significantly in February, Consumer Spending Weaker than Expected

Personal income fell $1,516.6 billion (7.1%) in February, roughly the consensus forecast, while consumer spending…

4 years ago

Study: Infection, Vaccination Protects Against Covid-19 Variants

Research finds those previously infected by or vaccinated against SARS-CoV-2 are not at risk of…

4 years ago

This website uses cookies.