Pending home sales increased 7.4% in September to a level of 75.8 on the National Association of Realtors Pending Home Sales Index. Compared with September 2023, pending home sales were up 2.6%.
All four major regions experienced month-over-month gains. The Northeast PHSI increased 6.5%, the Midwest index increased 7.1%, the South increased 6.7% and the West 9.8%.
“Contract signings rose across all regions of the country as buyers took advantage of the combination of lower mortgage rates in late summer and more inventory choices,” NAR Chief Economist Lawrence Yun said in a statement. “Further gains are expected if the economy continues to add jobs, inventory levels grow, and mortgage rates hold steady.”
The full NAR report can be found at this link.
