midwest

Pending Home Sales Reach Highest Level in Seven Months

Pending home sales rose to their highest level this February, and remain higher than a year ago according to the National Association of REALTORS?. Led by a sizeable increase in the Midwest, all major regions except for the Northeast saw an increase in contract activity.

Although the Pending Home Sales index, a forward-looing indication based on contract signings, has now increased year-over-year for 18 consecutive months, last month?s gain was the smallest.

Existing-Home Sales Reflect Rapid Growth

2017 kick starts after a slow December month in 2016 with a spike of 3.3 percentage points for the National Association of Realtors (NAR) existing-home sales. From 5.51 million to 5.69 million seasonally adjusted annual rate (SAAR), January launches a strong start to the new year.

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