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Pending Sales Index Ekes out Marginal Gain

Thursday, August 27, 2015

The index measuring pending home sales held on to its winning streak in July, but its grip slipped a bit.  The National Association of Realtors® (NAR) said today that its Pending Home Sales Index (PHSI) eked out a marginal 0.5 percent increase, making the month the sixth out of seven when contract signings gained compared to the previous month.  

The PHSI registered 110.9 in July, the third highest reading this year, lagging only April and May.  The June index as an upwardly revised 110.4.  The July level was 7.4 percent higher than a year earlier and the index has increased year over year for 11 consecutive months.

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