Northeast: PHSI fell 0.5% to 62.5 (down 3.0% year-over-year)
Midwest: PHSI rose 4.9% to 77.7 (up 1.4% year-over-year)
South: PHSI surged 9.8% to 94.1 (down 0.4% year-over-year)
West: PHSI increased 4.8% to 58.6 (down 2.0% year-over-year)
According to NAR Chief Economist Lawrence Yun,
"Home buyers are acutely sensitive to even minor fluctuations in mortgage rates. While contract signings are not a guarantee of eventual closings, the solid rise in pending home sales implies a sizable build-up of potential home buyers, fueled by ongoing job growth."He added:
"In March, signed contracts surged 34.1% from February based on non-seasonally adjusted raw data, reflecting a pattern consistent with previous years. In addition, inventory levels rose by 8.1% in March from the prior month, indicating a more dynamic housing-market environment."The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about us pending home sales for march 6 1 vs 1 0 estimate was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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