Contracts executed for the sale of pre-owned single-family properties diminished last month. But a sharp increase was reported for the West.

For April 2017, the Pending Home Sales Index, which is a forward-looking indicator based on contract signings, worked out to 109.8.

Compared to the prior month, the inventory of pending home sales retreated more than a percent. It was off more than 3 percent from a year prior.

Source: Mortgage Daily