Prior was 4.0% (revised to 4.2%)
The pending home sales index remained unchanged in September despite falling mortgage rates, according to NAR. However the August reading was revised slightly higher. Commentary in the report cited rising angst about the labor market. It also highlighted that inventory was at a five-year high.
Regionally:
Northeast
3.1% increase month over month0.5% increase year over year
Midwest
3.4% decrease month over month1.5% decrease year over year
South
1.1% increase month over month0.9% increase year over year
West
0.2% decrease month over month5.3% decrease year over year
This article was written by Adam Button at investinglive.com.