Pending Home Sales Rise for 17th Consecutive Month

The National Association of Realtors’ (NAR) Pending Home Sales Index for September revealed that real estate contract signings slightly rose over August 2012 by 0.3% and were 14.5% above September 2011. Per the NAR, “Pending home sales have risen for 17 consecutive months on a year-over-year basis, leading to the solid recovery seen in closed existing-home sales this year. In September all regions were showing double-digit increases in contract activity from a year ago with the exception of the West, which is constrained by limited inventory.”

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