Jump in pending home sales foreshadows positive end to the market in 2024
Housing Wire
NOVEMBER 27, 2024
Despite the recent rise in mortgage rates, early indicators suggest that the housing market is pointed in the right direction. The latest signal comes from the National Association of Realtors ‘ (NAR) Pending Home Sales Index (PHSI), which shows sales in October growing 5.4% year over year and 2% compared to September. The 77.4 reading for the PHSI is the highest mark since March and the third highest dating back to December 2023.
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