2015 Economic Calendar
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Pending Home Sales Index  
Released On 5/28/2015 10:00:00 AM For Apr, 2015
PriorPrior RevisedConsensusConsensus RangeActual
Pending Home Sales Index - M/M1.1 %1.2 %0.8 %-1.7 % to 2.5 %3.4 %
Pending Home Sales Index - Level108.6 108.7 112.4 

Pending home sales are sending off the most consistently positive signals of any housing indicator. Up now for four straight months, pending home sales jumped a much higher-than-expected 3.4 percent in April following an upward revised 1.2 percent gain in March. April gains were concentrated in the Northeast and Midwest with the South up slightly and the West up fractionally.

Pending home sales are up 14.0 percent year-on-year, far ahead of final sales of existing homes which are up only 6.1 percent. Credit issues surrounding closings don't seem to be a major headwind right now for the housing sector and are probably not obstacles for gains in final sales. Indications right now from the housing sector are uneven but some reports, especially this one, are showing strength.

Consensus Outlook
Pending home sales have been on a tear, up for three straight months and contrasting with what have been weaker results in final sales of existing homes. Forecasters see a solid 0.8 percent gain for the April report though the range is quite wide with a low reading of minus 1.7 percent, one that would once again lower the housing outlook.

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

2015 Release Schedule
Released On: 1/292/273/304/295/286/297/298/279/2810/2911/3012/30
Release For: DecJanFebMarAprMayJunJulAugSepOctNov

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