Econoday Report: Pending Home Sales Index December 1, 2009

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Pending Home Sales Index

Released on 12/1/2009 10:00:00 AM For October, 2009

	Prior	Actual
Pending Home Sales Index - Level	110.1	114.1
Pending Home Sales Index - M/M	6.1 %	3.7 %

Highlights
Existing home sales got a giant boost in October from the pending expiration of the first round of buyer credits, a gain that raised questions whether sales rates were pulled forward and would dip in subsequent months. But today's pending home sales report points to continued strength ahead. Pending home sales jumped 3.7 percent in October to 114.1, adding to September's even more impressive 6.0 percent gain. Year-on-year pending home sales are up 31.8 percent. The housing sector appears to be moving off the bottom, underscored by the 4.4 percent rise in private residential construction also reported today at 10:00.

Definition
The National Association of Realtors developed the pending home sales index as a leading indicator of housing activity. As such, it is a leading indicator of existing home sales, not new home sales. A pending sale is one in which a contract was signed, but not yet closed. It usually takes four to six weeks to close a contracted sale. Why Investors Care

2009 Release Schedule

Released On: 1/6 2/3 3/3 4/1 5/4 6/2 7/1 8/4 9/1 10/1 11/2 12/1

Released For: Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct

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