2012 Economic Calendar
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Pending Home Sales Index  
Released On 8/29/2012 10:00:00 AM For Jul, 2012
PriorConsensusConsensus RangeActual
Pending Home Sales Index - M/M-1.4 %1.0 %-1.5 % to 3.5 %2.4 %
Pending Home Sales Index - Level99.3 101.7 

Highlights
The latest good news out of the housing sector is a 2.4 percent rise in the pending home sales index, a gain that points to further improvement for existing home sales. The year-on-year rate of plus 12.4 percent is the highest in nearly 2-1/2 years. Regional data show gains in 3 of 4 regions led by the South which is the largest region. Sales of existing homes have been trending higher for the last year though gains have been slightly lagging those for new homes.

Consensus Outlook
The pending home sales index fell 1.4 percent in June but followed a strong 5.4 percent gain the prior month. Lack of supply appears to be an increasing negative in the housing sector. The National Association of Realtors, which compiles the pending sales report, blamed inventory shortages for June weakness.

Definition
The National Association of Realtors developed the pending home sales index as a leading indicator of housing activity. Specifically, 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
 
 

2012 Release Schedule
Released On: 1/252/273/264/265/306/277/268/299/2710/2511/2912/28
Release For: DecJanFebMarAprMayJunJulAugSepOctNov
 


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