Pending Home Sales Activity in the U.S. DropsJanuary 29, 2020
While the pace of home sales across the U.S. ended the year up, with contract activity having ticked up 1.2 percent in November, the National Association of Realtors Pending Home Sales Index, a seasonally adjusted index for which 100 denotes “an average level” of activity, suddenly dropped 4.9 percent in December to 103.2.
That being said, the pace of new contract signings across the U.S. remains 4.6 percent higher than at the same time last year but is now 8.1 percent below its cyclical high of 112.3 which was recorded in early 2017.
And having rebounded 5.5 percent in November, the regional Pending Home Sale Index for the West has since dropped 5.4 percent to a below-average reading of 93.1 but is still 7.0 percent above its mark at the same time last year.
Comments from Plugged-In Readers
Is this body of this article contradicting the title? The from and to are very confusing. Year over Year it is up – but month over month it is down?
Comments are closed.