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Pending home sales index reaches record high in U.S.

Christian Fernsby |
Pending home sales in August continued to move upward, marking four uninterrupted months of positive contract activity, according to the National Association of Realtors.

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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.

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