Pending home sales increase 2.4% in February in U.S.
Topics: HOME U.S.
Each of the four major regions saw an increase in month-over-month contract activity, as well as growth in year-over-year pending home sales transactions compared to one year ago.
The Pending Home Sales Index (PHSI), a forward-looking indicator based on contract signings, grew 2.4% to 111.5 in February.
Year-over-year contract signings increased 9.4%.
An index of 100 is equal to the level of contract activity in 2001. ■