2017 Economic Calendar
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Pending Home Sales Index  
Released On 6/28/2017 10:00:00 AM For May, 2017
PriorPrior RevisedConsensusConsensus RangeActual
Pending Home Sales Index - M/M-1.3 %-1.7 %0.5 %0.4 % to 0.8 %-0.8 %
Pending Home Sales Index - Level109.8 109.4 108.5 

Pending sales have slowed for the 3 months in a row, down 0.8 percent in May vs expectations for a 0.5 percent gain. Weakness is spread evenly through regions with the West showing the most decline, at minus 1.3 percent in the month. Final sales of existing homes don't always move in line with pending sales but the latter's ongoing decline is, like weakness in housing permits, a negative indication for the housing sector.

Consensus Outlook
The month-to-month path of existing home sales is not always accurately telegraphed by the pending home sales index which tracks initial contract signings. Final sales rose 1.1 percent in May despite 1.3 percent and 0.9 percent declines in pending sales in April and March. The consensus for May's pending sales index calls for a rebound to plus 0.5 percent in a result that would lift confidence in the housing sector.

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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