2018 Economic Calendar
POWERED BY  econoday logo
U.S. & Intl Recaps   |   Event Definitions   |   Today's Calendar   |   

Pending Home Sales Index  
Released On 6/27/2018 10:00:00 AM For May, 2018
PriorConsensusConsensus RangeActual
Pending Home Sales Index - M/M-1.3 %0.6 %-0.5 % to 2.0 %-0.5 %
Pending Home Sales Index - Level106.4 105.9 

Highlights
The resale market has been flat and may be about, despite the strength for new home sales, to turn lower. The pending home sales index for May fell 0.5 percent to just make the low end of Econoday's consensus range. Weakness in the report is concentrated in the South which is by far the biggest housing region and where contract signings for resales have fallen 3.5 and 1.0 percent the last two reports. These results underscore recent home-price updates including yesterday's Case-Shiller report that point to ebbing price appreciation for existing homes.

Consensus Outlook
Pending home sales are expected to increase 0.6 percent in May after dropping 1.3 percent rise in April. This index has been accurately forecasting what are flat results for the existing home sales report.

Definition
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
 


powered by  [Econoday]