Track US Pending Home Sales m/m to gauge economic momentum via housing market activities.
This is a key indicator of economic well-being, as home sales initiate a significant chain reaction. For instance, renovations are undertaken by the new homeowners, banks sell mortgages, and brokers receive compensation for facilitating the sale. This data is published roughly a week after Existing Home Sales, but it offers a more forward-looking perspective since contracts are signed several weeks prior to the home being officially recorded as sold.
What it Measures
The indicator reflects the change in the number of homes that are under contract to be sold but have not yet completed the closing process, excluding newly constructed homes.
Usual Effect
'Actual' numbers exceeding 'Forecast' are favorable for the currency.
Source & Frequency
National Association of Realtors (latest release) - https://www.nar.realtor/ • This report is issued monthly, approximately 19 days after the conclusion of the prior month.
How Data is Derived
N/A
Also Known As
Pending Resales
Acronym
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