Pending Home Sales Index Decreases 1.2% to 103.7 in March, Reports NAR

Pending home sales dropped in March, signifying five straight months that contract activity has declined, according to the National Association of Realtors. Month-over-month, only the Northeast saw an increase in contract signings, while the three other major U.S. regions experienced declines in transactions. All four regions reported decreases in year-over-year contract activity. The Pending Home Sales Index (PHSI) fell 1.2% to 103.7 in March. Year-over-year, transactions sank 8.2%. An index of 100 is equal

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