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 6/1/07 For Apr 2007 | ||||||||
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Highlights
Pending home sales fell 3.2 percent in April, following a 4.5 percent drop in March. Pending sales fell to a year-on-year drop of 10.2 percent in April from 10.0 percent in March. Pending sales fell 10.4 percent in the Northeast and 10.2 percent in the West. Pending sales rose 2.3 percent in the Midwest and 0.7 percent in the South. While overall numbers are down, there are at least signs of improvement regionally.
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