2017 Economic Calendar
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Pending Home Sales Index  
Released On 1/30/2017 10:00:00 AM For Dec, 2016
PriorConsensusConsensus RangeActual
Pending Home Sales Index - M/M-2.5 %0.6 %-1.8 % to 1.5 %1.6 %
Pending Home Sales Index - Level107.3 109.0 

Existing home sales have been at cycle highs but have not been able to move above, yet new gains may perhaps be underway. The pending home sales index rose a very a strong 1.6 percent in December which is just above Econoday's top estimate. Pending sales track contract signings for resales and the gain points squarely at January and February strength for final sales which are tracked in the existing home sales report..

Regional data for pending sales show the West out in front with a year-on-year gain of 5.0 percent. The Midwest trails with a 3.4 percent year-on-year decline. This is a light week for housing data though the Case-Shiller price report will be a highlight of tomorrow's calendar.

Consensus Outlook
Housing indicators for the most part have been showing strength but not the pending home sales index which tracks initial contract signings for resales and was very soft in October and November. But forecasters see a bounce for December, predicting a consensus rise of 0.6 percent that in turn would point to a bounce higher for final sales of existing homes.

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

2017 Release Schedule
Released On: 1/302/273/294/275/316/287/318/319/2710/2611/2912/27
Release For: DecJanFebMarAprMayJunJulAugSepOctNov

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