Pending Home Sales Cool in September

Pending Home Sales Cool in September

Pending home sales cooled in September for the second straight month and to their second lowest index reading in 2015, according to the National Association of Realtors®. All four major regions experienced a pullback in activity in September. The Pending Home Sales Index, a forward–looking indicator based on contract signings, declined 2.3 percent to 106.8 in September from a slightly downwardly revised 109.3 in August but is still 3.0 percent above September 2014 (103.7). With last month's decline, the index is now at its second lowest level of the year (103.7 in January), but has still increased year–over–year for 13 straight months.