2017 Economic Calendar
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Pending Home Sales Index  
Released On 4/27/2017 10:00:00 AM For Mar, 2017
PriorConsensusConsensus RangeActual
Pending Home Sales Index - M/M5.5 %-0.5 %-1.2 % to 3.7 %-0.8 %
Pending Home Sales Index - Level112.3 111.4 

Resales have been moving to expansion highs though moderate retracement is the outlook for April and perhaps even May. Pending sales in March, which track initial contract signings for resales, fell 0.8 percent though follow February's standout 5.5 percent surge. Though negative, today's results are not a surprise for a housing sector that as a whole is entering the Spring selling season with strength.

Consensus Outlook
Month-to-month swings in existing home sales have been accurately telegraphed by the pending home sales index which tracks initial contract signings. This index had been up-and-down in prior readings and then surged 5.5 percent in February to foretell what were unusually strong final sales in March. Forecasters see only limited give back, at a consensus minus 0.5 percent.

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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