Fw Intelligence Nar: Pending Dwelling Sales Expand 1.2% Inwards November

From the NAR: Pending Home Sales Expand 1.2% inwards November

Pending dwelling sales increased inwards November, rebounding from the prior month’s decline, according to the National Association of Realtors®. The West share reported the highest growth concluding month, spell the other 3 major U.S. of America regions saw alone marginal variances inwards month-over-month contract activity. Pending dwelling sales were upwards nationally together with upwards inwards all regions compared to ane twelvemonth ago.

The Pending Home Sales Index (PHSI), a forward-looking indicator based on contract signings, rose 1.2% to 108.5 inwards November. Year-over-year contract signings jumped 7.4%. An index of 100 is equal to the score of contract activeness inwards 2001.
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he regional indices had mixed results inwards November. The Northeast PHSI slid 0.1% to 96.3 inwards November, 2.6% higher than a twelvemonth ago. In the Midwest, the index rose 1.0% to 102.5 concluding month, 5.0% higher than inwards Nov 2018.

Pending dwelling sales inwards the South decreased 0.2% to an index of 125.0 inwards November, a 7.7% increment from concluding November. The index inwards the West grew 5.5% inwards Nov 2019 to 98.4, an increment of 14.0% from a twelvemonth ago.
emphasis added

This was about expectations for this index. Note: Contract signings commonly Pb sales yesteryear nigh 45 to threescore days, together with therefore this would commonly live on for unopen sales inwards Dec together with January.