Last month, the volume of homes under contract soared to the second-highest level in more than a decade, and the Midwest was out front.

The Pending Home Sales Index, a forward-looking indicator based on contract signings, was a seasonally adjusted 112.3 in February.

That was the highest index since April 2016, when it was 113.6, and the second-highest level since February 2006, when it was 117.4.

Source: Mortgage Daily