Housing Analysis , ,

Pending Home Sales Post 20th Consecutive Month Of Annual Gains

The National Association of REALTORS® (NAR) reports that the Pending Home Sales Index fell 4.3 percent in December as compared to the month prior. The index now reads 101.7. The Pending Home Sales Index measures the number of U.S. homes that have gone "into contract", but have not yet closed. The report is based on data collected from local real estate associations, and from national brokers. Despite December's drop, however, the annual rate at which contracts for a home purchase were drawn increased 6.9 percent from one year ago, and marked the 20th consecutive month of annual purchase contract gains.…
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Housing Analysis , ,

Pending Home Sales Index Leaps To Multi-Year High

Homes were sold at a furious pace last month. According the National Association of REALTORS® (NAR), the Pending Home Sales Index rose 5.2 percent in October, crossing the benchmark 100 reading, and moving to 104.8. It's a 5-point improvement from September's revised figure and the highest reading April 2010 -- the last month of that year's federal home buyer tax credit. October also marks the 18th consecutive month during which the index showed year-to-year gains. As a housing market metric, the Pending Home Sales Index (PHSI) differs from most commonly-cited housing statistics because, instead of reporting on what's already occurred, it details…
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Housing Analysis , ,

Pending Home Sales Index Suggests Housing Momentum Into 2013

The home resales is expected to finish the year with strength. Last month, for the fifth straight month, the Pending Home Sales Index hovered near its benchmark value of 100, registering 99.5 in September. he Pending Home Sales Index tracks homes under contract to sell, but not yet sold, and is published by the National Association of REALTORS®. The index is a relative one. It compares today's housing market activity to the housing market activity of 2001 -- the index's first year of existence. The Pending Home Sales Index has averaged 99.1 this year. Among housing market indicators, the Pending…
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Housing Analysis , ,

Pending Home Sales Index Continues To Show Strength

Nationwide, homes continue to sell briskly. According to the National Association of REALTORS®, the Pending Home Sales Index read 99.2 for August -- the fourth straight month in which the index hovered near its benchmark value of 100. A "pending home" is a home that is under contract to sell, but has not yet closed. The index measures with fair accuracy the future strength of the U.S. housing market. For today's Morgan Hill home buyers, the August Pending Home Sales Index is relevant for several reasons. First, the index remains near its highest point since April 2010, the last month…
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