2017 Economic Calendar
POWERED BY  econoday logo
U.S. & Intl Recaps   |   Event Definitions   |   Today's Calendar   |   

Pending Home Sales Index  
Released On 7/31/2017 10:00:00 AM For Jun, 2017
PriorPrior RevisedConsensusConsensus RangeActual
Pending Home Sales Index - M/M-0.8 %-0.7 %0.9 %0.3 % to 1.5 %1.5 %
Pending Home Sales Index - Level108.5 108.6 110.2 

After three straight declines, the pending home sales index posts a gain and a strong one, at 1.5 percent in June data that signal a long needed bounce for final sales of existing homes. Regional data show little variation with the West leading in June and the Midwest trailing. Pending sales take a month or two to close which points to strength for existing home sales in July and August. The housing sector struggled through the Spring season but, with second-half acceleration driven by low mortgage rates and high employment levels, can still post a solid year.

Consensus Outlook
Pending sales have fallen for 3 months in a row, correctly telegraphing what has been a soft patch for existing home sales. Forecasters are calling for a strong 0.9 percent bounce back for June's data.

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

powered by  [Econoday]