October pending home sales hit a low point

The Daily Buzz

The latest Pending Home Sales Index (PHSI) fell 1.5% to 71.4 in October.Released this morning by the National Association of Realtors, the new reading is the lowest number the index has hit since it was established in 2001. The PHSI is a forward-looking indicator of home sales based on contract signings. Year over year, pending transactions…

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