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

Pending Home Sales Index  
Released On 8/31/2017 10:00:00 AM For Jul, 2017
PriorPrior RevisedConsensusConsensus RangeActual
Pending Home Sales Index - M/M1.5 %1.3 %0.4 %-2.0 % to 0.8 %-0.8 %
Pending Home Sales Index - Level110.2 110.0 109.1 

For the fourth time in five months the pending home sales index fell, down 0.8 percent in July to signal weakness for existing homes sales which have fallen in three of the last four reports. The regional breakdown shows the South, which is the largest housing region, falling 1.7 percent in the month with the West, at plus 0.6 percent, the only one in positive ground. Pending sales take about a month or two to close which points to trouble for both the August and also the September existing home sales reports. Housing opened the year with strength before fizzling during the Spring selling season and limping through the Summer months. Also note that Hurricane Harvey is certain to depress home sales in the South in coming housing reports.

Consensus Outlook
Pending sales bounced back 1.5 percent in June but failed to help final sales of existing homes in July which fell sharply for a second month in a row. Forecasters see pending sales rising again, up a consensus 0.4 percent in July.

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]