The National Association of Realtors (NAR) said on Nov. 29 that one of its key leading indicators -- its Pending Home Sales Index (PHSI) -- rose 7.5% in October, reversing a September dip. "Pending home sales" means a contract has been signed but the transaction hasn't closed. The NAR says its PHSI now stands at 125.2, with 100 equaling the level of contract activity in 2001.
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