Pending home sales index reaches record high in U.S.
Topics: U.S.
Each of the four major regions experienced growth in month over month and year over year pending home sales transactions.
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. ■