The National Association of Realtors® (NAR) has reported that their Pending Home Sales Index (PHSI), slipped <-1.7%> in October, after 2-months of upward movement. Of the 4 reporting zones, only the Northeast experienced a minor up tick, all other zones lost ground. However, pending home sales were up nationally and up in all regions compared to a year ago. 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-ops. The PHSI generally leads Existing-Home Sales by a month or two.
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.
Pending Home Sales