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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
5/1/07
For
Mar 2007 |
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Pending Home Sales Index - M/M
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| Actual |
-4.9%
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| Previous |
0.7
%
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Highlights
Pending home sales fell 4.9 percent in March to 104.3 showing a deepening year-on-year decline of 10.5 percent. Pending sales fell in all regions except the West where sales rose slightly. April data on housing won't start unrolling until mid-month but Friday's employment report will offer the latest on construction jobs in the month.
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