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Pending Home Sales Stable but Promising

Wednesday, December 31, 2014

November's pending home sales improved from October levels and posted the third consecutive year-over-year gain and the largest one in over a year.  The National Association of Realtors® (NAR) said the increase, while not large, was felt in every region but the Midwest.

The NAR's November Pending Home Sales Index (PHSI) was up 0.8 percent from October's slightly down-graded level of 104.0 to 104.8.  That was a 4.1 percent gain from the PHSI of 100.7 in November 2013, the largest such improvement since August 2013 when the index jumped 5.6 percent. 

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