Mumbai, May 30 -- The US pending home sales decreased 6.3% in April, according to the National Association of REALTORS (NAR). All four U.S. regions experienced month-over-month losses in transactions. Year-over-year, contract signings rose in the Midwest but descended in the Northeast, South and West - with the West suffering the greatest loss. The Pending Home Sales Index (PHSI) - a forward-looking indicator of home sales based on contract signings - tanked 6.3% to 71.3 in April. Year-over-year, pending transactions retracted by 2.5%. An index of 100 is equal to the level of contract activity in 2001.
Published by HT Digital Content Services with permission from Capital Market....