2012 Economic Calendar
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Pending Home Sales Index  
Released On 2/27/2012 10:00:00 AM For Jan, 2012
PriorPrior RevisedConsensusConsensus RangeActual
Pending Home Sales Index - M/M-3.5 %-1.9 %1.5 %-1.1 % to 3.0 %2.0 %
Pending Home Sales Index - Level96.6 95.1 97.0 

Contract signings for existing home purchases rose 2.0 percent in January and point to strength ahead for final sales. January's strength is centered in the South which is by far the largest region for home sales. Year-on-year, the region shows a very strong 10.5 percent gain which points to building strength for already solid national year-on-year growth of 8.0 percent.

Though contract signings often don't make it to closing due to credit and appraisal snags, today's report hints at a rising economic contribution from the housing sector. The Dow is popping up from opening lows following release of the data. Next data on the housing sector will be tomorrow with the S&P Case-Shiller report on home prices.

Consensus Outlook
The pending home sales index in December fell 3.5 percent, following a 7.3 percent gain in November and a 10.4 percent surge in October. Year-on-year, pending home sales were up 5.6 percent and are only three tenths slower than November.

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

2012 Release Schedule
Released On: 1/252/273/264/265/306/277/268/299/2710/2511/2912/28
Release For: DecJanFebMarAprMayJunJulAugSepOctNov

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