US pending home sales rise 2% in October, signaling market strength

Posted on December 2, 2024   |  

Sales of single-family homes, condos, and co-ops grew 2.0% month-over-month, reaching a reading of 77.4 in October, with pending sales rising 5.4% from the previous year.

An index reading of 100 reflects contract activity levels from 2001.

The Northeast Pending Home Sales Index (PHSI) rose 4.7% from September to 68.7, up 7.2% from October 2023.

The Midwest PHSI increased 4.0% to 77.8 in October, reflecting a 1.8% rise from the previous year.

The South’s PHSI climbed 0.9% to 90.0 in October, up 2.5% from a year ago.

The West’s PHSI grew 0.2% from the previous month to 64.1, showing a 16.8% year-over-year increase.