Pending home sales index reaches record high in U.S.Christian Fernsby ▼ | October 1, 2020
Pending home sales in August continued to move upward, marking four uninterrupted months of positive contract activity, according to the National Association of Realtors.
Pending U.S. home
The Pending Home Sales Index (PHSI), a forward-looking indicator of home sales based on contract signings, rose 8.8% to 132.8 a record high in August.
Year over year, contract signings rose 24.2%.
An index of 100 is equal to the level of contract activity in 2001. ■