Too hot to move: Housing market stalls with no relief ahead

For months it seems we’ve watched and waited with bated breath for the housing market to gain some real traction on the uphill climb to stability, and it looks like we’ll have to sit tight a while longer still. August’s Pending Home Sales Index (PHSI), a monthly forward-looking indicator measured by the National Association of Realtors (NAR), declined 2.6 percent to 106.3 in August from a downwardly revised 109.1 in July and declined 2.6 percent year-over-year — the lowest reading since January 2016 (106.1) …
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