Pending home sales slid in September

Oct. 27, 2011 at 12:42 PM
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WASHINGTON, Oct. 27 (UPI) -- Pending U.S. home sales fell in September for the third consecutive month, the National Association of Realtors said Thursday.

The Pending Home Sales Index, measuring contracts that will likely close in November or December, fell 4.6 percent after dropping 1.2 percent in August. The index now reads 84.5, down from 88.6 a month earlier, the trade group said.

Region by region, the index dropped 4.7 percent in the Northeast and 6.2 percent in the Midwest. In the South, the index rose 5.5 percent. In the West, the index fell 2.1 percent.

From September 2010, however, the index has risen 4 percent in the Northeast, 12.3 percent in the Midwest, 5 percent in the South and 5.6 percent in the West.

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