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 2/1/07 For Dec 2006 | ||||||||
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Highlights
Pending home sales rose 4.9 percent in December to 112.4 from 107.2 in November for its biggest jump since March 2004. Though boosted by favorable weather, the gain, which was spread across all regions, will add further to growing optimism that the housing sector is stabilizing.
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