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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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NYS home sales post second-highest May total

Homebuyer activity remained strong in May, driving the New York State housing market to the second-highest sales total for the month with 10,348 closings. May 2018 closed sales were 8.6 percent lower than the record of 11,322 set in May 2017. The median sales price growth trend continued, increasing by 11.5 percent compared to last May, ending the month at $262,000. Click here to read more.

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