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NAR: Pending sales reach 10-year high

May 26, 2016

The National Association of REALTORS' latest Pending Home Sales Index (PHSI) shows that pending home sales rose for the third consecutive month in April and reached their highest level in more than a decade. The PHSI in the Northeast climbed 1.2 percent to 98.2 in April, and is now 10.1 percent above a year ago.

The PHSI, a forward-looking indicator based on contract signings, increased by 5.1 percent to 116.3 in April from an upwardly revised 110.7 in March and is now 4.6 percent above April 2015 (111.2). After last month's gain, the index has now increased year-over-year for 20 consecutive months.

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Home sales near record high in November

There were 10,719 closed home sales across New York State during November, representing the second-highest total on record for the month. The November sales record of 10,991 was set in November 2016. The statewide median sales price grew by 5.8 percent in November compared to last November. Click here to read more.