WASHINGTON (July 29, 2020) – Pending home sales continued to ascend in June, sustaining two consecutive months of increases in contract activity, according to the National Association of Realtors®. Each of the four major regions experienced growth in month-over-month pending home sales transactions, while the Northeast was the only region to not record increases in year-over-year pending transactions.
The Pending Home Sales Index (PHSI),* www.nar.realtor/pending-home-sales, a forward-looking indicator of home sales based on contract signings, rose 16.6% to 116.1 in June. Year-over-year, contract signings rose 6.3%. An index of 100 is equal to the level of contract activity in 2001.