After retreating for three consecutive months, the pipeline of pending home sales moved higher last month. Out front of the bounce was the West.

The U.S. Pending Home Sales Index was calculated to be 110.2 during June 2017. The index is a forward-looking indicator based on contract signings.

On a seasonally adjusted basis, that turned out to be 1.5 percent higher than in May 2017, when the index had moved lower three months in a row.

Source: Mortgage Daily