Having dipped 2.5 percent in July, the National Association of Realtors Pending Home Sales Index, for which 100 denotes “an average level” of activity, ticked up 1.6 percent in August to 107.3 and the pace of contract signings is now up 2.5 percent on a year-over-year basis but remains 4.5 percent below its cyclical high of 112.3 recorded in early 2017.

And having dropped 3.4 percent in July, the regional Pending Home Sale Index for the West rebounded 3.1 percent in August to 96.4, which is 8.0 percent above its mark at the same time last year while the pace of sales in San Francisco is down.

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