2018 Economic Calendar
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Pending Home Sales Index  
Released On 8/29/2018 10:00:00 AM For Jul, 2018
PriorPrior RevisedConsensusConsensus RangeActual
Pending Home Sales Index - M/M0.9 %1.0 %0.0 %-1.1 % to 1.0 %-0.7 %
Pending Home Sales Index - Level106.9 107.0 106.2 

More trouble is in store for the housing sector as initial contract signings for resales, as tracked by the pending home sales index, fell 0.7 percent in July. Year-on-year, this index is down 2.3 percent which compares with a 1.5 percent decline in final sales as measured by the existing home sales report.

Regions show roughly equal weakness with the West, where prices are strong and affordability low, the very weakest at a 0.9 percent decline in July and down 5.8 percent year-on-year. Today's results will lower estimates for the next existing home sales report.

Consensus Outlook
Pending home sales are expected to come in unchanged in July after rising 0.9 percent in June. This index has on trend been accurately forecasting final resales as tracked in the existing home sales report.

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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