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

Pending Home Sales Index  
Released On 11/29/2017 10:00:00 AM For Oct, 2017
PriorPrior RevisedConsensusConsensus RangeActual
Pending Home Sales Index - M/M0.0 %-0.4 %1.0 %0.6 % to 2.5 %3.5 %
Pending Home Sales Index - Level106.0 105.6 109.3 

Led by a hurricane bounce in the South, the pending home sales index jumped a much sharper-than-expected 3.5 percent in October which points to continued gains for final sales of existing homes. Pending sales in the South jumped 7.4 percent in October after falling 3.0 percent during the hurricane swept month of September. The index level in the South, at 123.6, far outdistances all other regions and compares against 109.3 for the total index. October's overall gain follows two months of sharp increases in new home sales and will boost confidence that housing, after a mostly flat year, is pivoting higher at year end.

Consensus Outlook
No change in September's pending sales index failed to predict final sales of existing homes in October which proved strong. Yet this index has been a generally accurate gauge for what has proven to be a modest year for the resale market. The Econoday consensus for the October pending sales index is a sharp gain of 1.0 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

powered by  [Econoday]