Pending Home Sales Trail Off 1.5% in April
*The historical series of California pending sales index has been revised to reflect updated statistics from multiple counties. title 2017-10 Pending Home Sales Index Public.xls
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The Pending Home Sales Index, a forward-looking indicator based on contract signings, fell 1.5% to 104.3 in April, down from 105.9 in March. Year-over-year contract signings declined 2.0%, making this the 16th straight month of annual decreases.
The PHSI in the Northeast declined 1.8% to 88.9 in April and is now 2.1% below a year ago. In the Midwest, the index grew 1.3% to 96.8 in April, 2.4% lower than April 2018. Pending home sales in the South fell 2.5% to an index of 124.0 in April, which is 1.8% lower than last April.
April Pending Home Sales Regional Breakdown . The PHSI in the Northeast declined 1.8% to 88.9 in April and is now 2.1% below a year ago. In the Midwest, the index grew 1.3% to 96.8 in April, 2.4% lower than April 2018. Pending home sales in the South fell 2.5% to an index of 124.0 in April, which is 1.8% lower than last April.
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Pending home sales in the South fell 2.5% to an index of 124.0 in April, which is 1.8% lower than last April. The index in the West dropped 1.8% in April to 93.5 and fell only 1.5% below a year ago. The National Association of Realtors is America’s largest trade association, representing more than 1.3 million members involved in all aspects of the residential and commercial real estate industries.
Thursday, the association said that its pending home sales index fell 1.5% in April to a reading of 104.3. The increase was weaker than expected as economists were expecting to see a 0.9% rise. Failing to catch any safe-haven bid, gold prices are seeing little reaction to disappointing economic data.
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