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Pending Home Sales Index
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Definition
The National Association of Realtors developed the pending home sales index as a leading indicator of housing activity. As such, 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
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| Released on
8/1/06
For
Jun 2006 |
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Pending Home Sales Index
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| Actual |
0.4%
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| Previous |
1.3
%
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Highlights
The pending home sales index firmed 0.4 percent in June to 113.9. But year-on-year, the index is down 9.6 percent. Pending sales were firm in all regions except the Northeast which showed a decline possibly tied to flooding. Whether the housing sector is cooling too fast is an emerging risk in the economic outlook.
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