Having dropped 2.4 percent in August to the second lowest level of the year, the National Association of Realtors Pending Home Sales Index, for which 100 denotes an average level of activity, edged back up 1.5 percent to 110.0 in September, the fifth highest level over the past nine months.
As such, the index is now 2.4 percent higher than at the same time last year but 4.3 percent below this past April’s reading of 115.0, which was a ten-year high.
And having dropped 5.3 percent in August, the Pending Home Sales Index for the West gained 4.7 percent to 107.3 in September now measures 4.0 percent higher versus the same time last year.