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Homebuyers were Busy in January; Pending Sales Rise

PendingHomeSales

Even though sales of existing homes dropped by 4.9 percent in January buyers were apparently out shopping and seriously so. The National Association of Realtors® said that its Pending Home Sales Index (PHSI) climbed to 104.2 in January, a 1.7 percent increase from December and the highest level for the index since August 2013.
The index in the West rose 2.2 percent in January to 96.4 and is 11.4 percent above a year ago.