Pending Home Sales Up

NAR Pending Index

According to the National Association of REALTORS® September 1 report [1], “Contract activity for pending home sales has risen for six straight months, a pattern not seen in the history of the index since it began in 2001."

The Pending Home Sales Index,1 a forward-looking indicator based on contracts signed in July, increased 3.2 percent to 97.6 from a reading of 94.6 in June, and is 12.0 percent higher than July 2008 when it was 87.1. The index is at the highest level since June 2007 when it was 100.7.

Read the NAR Pending Index release [2].