|
|
|
Pending Home Sales Index
|
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
|
| Released on
10/2/07
For
Aug 2007 |
|
Pending Home Sales Index - M/M
|
| Actual |
-6.5%
|
| Previous |
-12.2
%
|
|
|
|
|
|
Highlights
August's pending home sales index, based on sales contracts for existing homes signed in August and set to close in September or October, tumbled 6.5 percent for a year-on-year drop of 21.5 percent. The report said the lack of mortgage availability is reducing the number of contracts. Treasury prices firmed in immediate reaction to the data which further weaken the outlook for the housing sector. Mortgage bankers data tomorrow morning will offer the next reading on the sector.
|
|
|
powered by ![[Econoday]](../../../../../../../../../images/logo.gif)
|
|
Legal Notices | © Copyright 2000 - 2008.
Econoday, Inc.
|
