Highlights
Sales growth for existing homes has been lagging sales growth for new homes and looks to continue to lag based on September's modest 0.3 percent rise for pending sales of existing homes. The National Association of Realtors says the result points to no more than "minor movement" for near-term sales of existing homes, though the group believes that underlying fundamentals, which include low mortgage rates, are positive with sales likely to re-assert their uptrend through next year. Final sales of existing homes, data released last week, dipped back in September following two prior months of convincing gains. The Dow is little changed following today's report.

Market Consensus before announcement
The pending home sales index fell 2.6 percent in August. Low supply of houses on the market is a key factor holding down sales as are firming prices. Regional data showed a sharp fall for pending sales in the West where supply is especially tight. The Midwest and South also showed declines in the month with the Northeast showing a gain.

2012 Released Schedule

Released On: 1/21 2/23 3/22 4/22 5/26 6/23 7/22 8/25 9/23 10/21 11/25 12/24 Release For: Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov