2020 Weekly Housing Market Monitor October 26-29

Market Report provided by NAR

Contracts signings in the month of September fell slightly from August’s level. The Pending Home Sales Index notched down to 130, a 2.2% decrease from August. Year-over-year, the index was still up 20.5%.Only the Northeast recorded an increase in contract activity compared to August (2%) while signings fell in the Midwest (-3.2%), the South (-3%), and the Midwest (-2.6%). Lack of inventory and rising prices are the likely factors that led to the decline in contract signings.