Having ticked up 1.6 percent in August, the National Association of Realtors Pending Home Sales Index, for which 100 denotes “an average level” of activity, ticked up another 1.5 percent in September to 108.7.

As such, the pace of new contract signings across the U.S. is now 3.9 percent higher than at the same time last year but remains 3.2 percent below a cyclical high of 112.3 recorded in early 2017.

And having rebounded 3.1 percent in August, the regional Pending Home Sale Index for the West dropped 1.3 percent in September to 95.1 but remains 3.4 percent above its mark at the same time last year.

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