Pending home sales in September remained unchanged from the prior month and decreased by 0.9% year over year, as reported by the National Association of REALTORS®. Month-over-month and year-over-year pending home sales rose in the Northeast and South but declined in the Midwest and West. The REALTORS® Confidence Index survey shows 20% of NAR members expect an increase in buyer traffic, while 19% expect an increase in seller traffic. NAR Chief Economist Lawrence Yun noted that while contract signings have increased, they have not reached levels needed for a healthy market. Inventory has climbed to a five-year high, giving home buyers more options and room for price negotiation.

Read more at GlobeNewswire: NAR Pending Home Sales Report Shows No Change in September