U.S. Pending Home Sales Gain Ground

Pending home sales in the U.S. gained ground for the third consecutive month, says the National Association of Realtors. The ‘Pending Home Sales Index (PHSI)’ rose 5.9 per cent to 122.1 in July. Year-over-year, contract signings rose 15.5 per cent. While home buyers missed most of the spring buying season due to pandemic-induced lockdown measures, buying activity is now robust from pent-up demand, it says.