2017 Economic Calendar
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Pending Home Sales Index  
Released On 5/31/2017 10:00:00 AM For Apr, 2017
PriorPrior RevisedConsensusConsensus RangeActual
Pending Home Sales Index - M/M-0.8 %-0.9 %0.5 %-0.5 % to 1.4 %-1.3 %
Pending Home Sales Index - Level111.4 111.3 109.8 

Highlights
Spring sales data have not been favorable for the housing sector. Pending home sales are down for a second straight month, 1.3 percent lower in April to an index of 109.8 which is 3.3 percent below this time last year. This index tracks contract signings for resales and the results point to weakness for final sales in May and June. Final resales contracted in April as did new home sales while the month's housing starts were also weak. Spring is the big season for housing and these are not the results of a sector that will be leading the 2017 economy.

Recent History Of This Indicator
This year's month-to-month path of existing home sales has been accurately telegraphed by the pending home sales index which tracks initial contract signings. This index fell 0.8 percent in March and was followed by an even more sizable decline in final sales. But housing data in general have been strong and forecasters see a rebound for April, at a consensus gain of 0.5 percent.

Definition
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
 
 

2017 Release Schedule
Released On: 1/302/273/294/275/316/287/318/319/2710/2611/2912/27
Release For: DecJanFebMarAprMayJunJulAugSepOctNov
 


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