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 1/4/07 For Nov 2006 | ||||||||
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Highlights
The pending home sales index rebounded/edged down 0.5 percent in November to 107.0, following a 1.5 percent decline in October. The overall index is down 11.4 percent year-on-year in November, compared to down 13.0 percent in October. November's fall was led by the Northeast region with a drop of 2.8 percent but declines were also seen in the South and West with decreases of 1.1 percent and 2.6 percent, respectively. The Midwest posted an increase of 4.8 percent. The pending home sales index is compiled by the National Association of Realtors.
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