Pending Home Sales Grow In August 2019
Pending Home Sales Grow In August 2019 according to NAR… “The Pending Home Sales Index (PHSI),* www.nar.realtor/pending-home-sales, a forward-looking indicator based on contract signings, climbed 1.6% to 107.3 in August, reversing the prior month’s decrease. Year-over-year contract signings jumped 2.5%. An index of 100 is equal to the average level of contract activity.”
More Great News!
With regard to Virginia’s region…. “Pending home sales in the South increased 1.4% to an index of 124.4 in August, a 1.8% bump from last August.”
Even More Great News!
According to Lawrence Yun, NAR Chief Economist, “With interest rates expected to remain low, home sales are forecasted to rise in the coming months and into 2020…”
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Copyright ©2019“Pending Home Sales.” NATIONAL ASSOCIATION OF REALTORS®. All rights reserved. Reprinted with permission. September 26, 2019, https://www.nar.realtor/research-and-statistics/housing-statistics/pending-home-sales