2018 Economic Calendar
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Pending Home Sales Index  
Released On 3/28/2018 10:00:00 AM For Feb, 2018
PriorPrior RevisedConsensusConsensus RangeActual
Pending Home Sales Index - M/M-4.7 %-5.0 %3.0 %0.5 % to 6.0 %3.1 %
Pending Home Sales Index - Level104.6 104.3 107.5 

Existing home sales have been struggling to move higher but today's pending home sales index will raise expectations for improvement. Pending home sales rose a sharp 3.1 percent in data for February though they follow an even sharper 5.0 percent revised decline in January. The Northeast has been showing life in recent housing data with February pending sales jumping 10.3 percent in the month. Pending sales in the South rose 3.0 percent with the Midwest up 0.7 percent and the West up 0.4 percent.

Consensus Outlook
Pending home sales are expected to rebound 3.0 percent in February after posting a very sharp 4.7 percent decline in January which did not, however, result in weakness for final sales of existing homes which instead posted a solid February gain. Note that the consensus range, from 0.5 percent to 6.0 percent, is very wide.

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

2018 Release Schedule
Released On: 1/312/283/284/305/316/277/308/299/2710/2511/2912/28
Release For: DecJanFebMarAprMayJunJulAugSepOctNov

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