Pending Home Sales Continue to Slow; Prices, Inventory Faulted

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Posted To: MND NewsWire

Pending home sales dipped slightly in November, the third time in four months they have done so. The National Association of Realtors® (NAR's) Pending Home Sales Index (PHSI) was down 0.9 percent from October to 106.9. The November 2015 PHSI, which is based on contracts signed during the month to purchase homes, was 2.7 percent above the November 2014 level of 104.1. Although the index has increased on an annual basis for 15 consecutive months, November's 12 month gain was the smallest since October 2014 when the increase was 2.6 percent. Modest gains in the Midwest and South were offset by larger declines in the Northeast and West. NAR revised its October PHSI upward from its original estimate of 107.7 to 107.9. October was already the only month in the last four in which the index had...(read more)

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Source: http://www.mortgagenewsdaily.com/12302015_pending_home_sales.asp

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