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Pending Home Sales Reaching Historic Highs Despite Dip — RISMedia |

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Pending Home Sales Reaching Historic Highs Despite Dip — RISMedia |

January 31, 2021
in Homes for Sale
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Pending Home Sales Reaching Historic Highs Despite Dip — RISMedia |
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Pending home sales decreased by 0.3 percent in December, according to the National Association of REALTORS® (NAR) Pending Home Sales Index (PHSI), which came in at 125.5. However, year-over-year, contract signings have jumped 21.4 percent, and for December, this is still the highest ever registered.

Regionally, activity declined in one of the four major areas (the Midwest), while activity climbed (in the Northeast and South) or remained flat (in the West) in the other three.

Regional Breakdown:

Northeast
+3.1% MoM – Now 112.0 PHSI
+22.1% YoY

Midwest
-3.6% MoM – Now 111.7 PHSI
+13.9% YoY

South
+0.1% MoM – Now 150.6 PHSI
+26.6% YoY

West
Unchanged MoM – 113.3 PHSI
+19.9% YoY

What the Industry Is Saying:

“Pending home sales contracts have dipped during recent months, but I would attribute that to having too few homes for sale. There is a high demand for housing and a great number…

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