12/31: MetroIntelligence Economic Update by P. DUFFY

November pending home sales rose 1.2 percent from October and 7.4 percent year-on-year

The Pending Home Sales Index (PHSI) rose 1.2% to 108.5 in November. Year-over-year contract signings jumped 7.4%. An index of 100 is equal to the level of contract activity in 2001.



3Q 2019 GDP grew at 2.1 percent in third and final estimate

Real gross domestic product (GDP) increased 2.1 percent in the third quarter of 2019, according to the “third” and final estimate.  The growth rate was unrevised from the “second” estimate released in November. In the second quarter, real GDP rose 2.0 percent.