5/26/2023 – MetroIntelligence Economic Update by P. DUFFY

MetroIntelligence Economic Update by P. DUFFY Pending home sales flat in April, down 20.3 percent year-on-year The Pending Home Sales Index (PHSI) remained at 78.9 in April, posting no change from the previous month. Year over year, pending transactions dropped by 20.3%. The Northeast PHSI dropped 11.3% from last month to 59.1, a decrease of 21.8% from April 2022. The Midwest index improved 3.6% to 78.4 in April, down 21.4% from one year ago. The South PHSI increased 0.1% to 99.6 in April, sinking 16.7% from the prior year. The…

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