The National Association of Realtors (NAR) reported that the August pending (under contract) home sales increased a much stronger rate than they had expected. The increase in house sales was 7.4%.

The survey consensus expected a 1.3% decrease in August following a 3.2% decline in July. Pending home sales increased across all four regions across the United States with the Western region leading the pack with an 18.4% increase. The National Association of Realtors anticipates about 80% of pending home sales become closed home sales within two months.