The Washington Post

Pending home sales hold steady in September

Pending home sales, a leading indicator in the housing market, held steady in September.

The National Association of Realtors said Thursday that the national Pending Homes Sales Index, which is based on contract signings rather than actual sales, rose slightly to 99.5 last month from 99.2 in August, a slight increase of 0.3 percent. It was up 14.5 percent from September 2011 when it was 86.9 percent.

In July, the index rose to its highest level in more than two years, 101.9. “Home contract activity remains at an elevated level in contrast with recent years, but currently appears to be bouncing around in a narrow range,” NAR chief economist Lawrence Yun said in a statement.  “This means only minor movement is likely in near-term existing-home sales, but with positive underlying market fundamentals they should continue on an uptrend in 2013.”

Year-over-year pending home sales have risen nationally for 17 months in a row.

In the Washington area, pending home sales were down in September. According to data from RBIntel, the number of pending home sales in the D.C. metro region have been declining since June. There were 8,994 pending home sales in September, down from 9,155 in August.

Kathy Orton is a reporter and Web editor for the Real Estate section. She covers the Washington metropolitan area housing market.


Success! Check your inbox for details. You might also like:

Please enter a valid email address

See all newsletters

Show Comments
Most Read


Success! Check your inbox for details.

See all newsletters

Your Three. Videos curated for you.
Play Videos
Sleep advice you won't find in baby books
In defense of dads
Scenes from Brazil's Carajás Railway
Play Videos
For good coffee, sniff, slurp and spit
How to keep your child safe in the water
How your online data can get hijacked
Play Videos
How to avoid harmful chemicals in school supplies
Full disclosure: 3 bedrooms, 2 baths, 1 ghoul
How much can one woman eat?
Play Videos
What you need to know about Legionnaires' disease
How to get organized for back to school
Pandas, from birth to milk to mom