Prior month revised lower to -1.9% from -1.8%

  • Pending home sales rose 0.5% versus 0.0% expected
  • Tthe prior month was revised to -1.9% from -1.8%
  • The advance was led by a 4.5% gain in the West
  • The Midwest posted 81.2% increase
  • Northeast fell -0.4%
  • South was down -1.4% on hurricane issues.

National Association of realtors Lawrence Yun said on the report:

This shows that buyers are out there on the sidelines, waiting to jump in once more inventory becomes available and the price is right. Though affordability has been falling recently the demand for housing should remain steady