Pending Sales Beat Estimates, Resume Climb

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Posted To: MND NewsWire

Pending home sales posted a second solid performance in 2019 , with home purchase contract signings in March recovering from their slight dip in February. However, the National Association of Realtors® (NAR's) Pending Home Sales Index (PHSI) continues to lag in its year-over-year numbers. The PHSI posted a 3.8 percent increase in March to a reading of 105.8 compared to 101.9 in February. January had kicked off the year with a 4.3 percent increase, but February countered that with a 1.0 percent decline. The index is 1.2 percent lower than in March 2018, marking the 15th straight month of annual decreases. Three of the four major regions saw growth during the month ; the Northeast reported a minor slip in contract activity. The NAR report Is far better than analysts polled by Econoday had...(read more)

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