The National Association of Realtors® (NAR) has reported that their Pending Home Sales Index (PHSI), slipped <-4.9%> in December, after increasing slightly in November. All 4 reporting zones reported a drop in month-over-month contract signings. However, when compared to a year ago, pending home sales are up nationally and in all regions. The PHSI is a leading indicator of housing activity, measures housing contract activity, and is based on signed real estate contracts, not actual closings, for existing single-family homes, condos, and co-ps.
FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.