While pending home sales were down
slightly compared to September the National Association of Realtors® (NAR) said
October was the second month in a row that its Pending Home Sales Index (PHSI) bested
the previous year’s numbers and called the month’s activities “healthy.”
The PHSI was 104.1 in October, down 1.1
percent from the upwardly revised September level of 105.3. The October number is 2.2 percent higher than
the 101.9 posted in October 2013 and has remained above 100, considered an
average level of contract activity, for six consecutive months.