Pending home sales dipped in September, retreating slightly following a previous month of growth, according to the National Association of Realtors. Each of the four major U.S. regions saw contract activity decline month-over-month and year-over-year, with the Northeast weathering the largest yearly drop.
The Pending Home Sales Index (PHSI) decreased 2.3% to 116.7 in September. Year-over-year, signings decreased 8%. An index of 100 is equal to the level of contract activity in 2001.
“Contract
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