By Joshua KirbyThe number of houses going under contract unexpectedly rose in September, reversing the previous month's trend. Here are the main takeaways from the National Association of Realtors' report released Thursday:--The Pending Home Sales Index, a leading indicator of home sales based on contract signings, climbed 1.1% to 72.6 in September. --Increased housing stock is helping boost sales even in the face of rising mortgage rates, said Lawrence Yun, NAR's chief economist. --Pending home sales increased in thee of four U.S. regions, with the Midwest index rising most steeply and the Northeast and South also booking higher sales. --Despite the slight gain in September, pending contracts remain at historically low levels due to the highest mortgage rates in 20 years, Yun said.

Source: Wall Street Journal October 26, 2023 14:32 UTC