It's the 10th of the month so RBI has released their Pending Home Sales Index once again and thankfully there isn't any earth-shattering news to report. The number of contracts has declined, as has the average sales price, but neither of those numbers are extreme enough to cause any alarm. In fact, the 3,829 contracts signed in September was the highest number of contracts for the past five Septembers. The median sales price, $338,000 is almost right on target with the ten year average of $340,020.
NOTE: This monthly report has typically been prepared by Jonathan Miller, Curbed contributor and CEO of the appraisal firm Miller Samuel, but is now written by the RBI team. Miller discussed his departure on his blog, but he is still a Curbed contributor, so we can expect plenty more of his unambiguous truth-telling in the near future.