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 6/9/08 For Apr 2008 | |||||||||||||||
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Highlights
The pending home sales index really snapped back in April, jumping 6.3 percent month-on-month and cutting the year-on-year decline to 13.1 percent to end five months of 20 percent declines. The dollar firmed in immediate reaction to the data which points, at least tentatively, to slowing rates of decline for home sales. Builders will post their monthly index next week.
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