2011 Economic Calendar
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Pending Home Sales Index  
Released On 5/27/2011 10:00:00 AM For Apr, 2011
PriorPrior RevisedActual
Pending Home Sales Index - M/M5.1 %3.5 %-11.6 %
Pending Home Sales Index - Level94.1 92.6 81.9 

Highlights
In what could be the first signal of another breakdown in the housing market, April's pending home sales index fell nearly 11 points to 81.9, down 11.6 percent from a downward revised 92.6 in March. Regionally the decline is centered in the largest region which is the South where pending sales fell more than 17 percent. This decline could reflect the extraordinary weather that hit the region during the month. The National Association of Realtors is trying to be upbeat, citing weather factors along with high oil prices and the rise in jobless claims. Hopefully they're right and the likely decline ahead for final sales of existing homes will only be temporary. This report is moving the markets, pulling money out of the stock market and into the safety of bonds.

Definition
The National Association of Realtors developed the pending home sales index as a leading indicator of housing activity. Specifically, 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
 
 

2011 Release Schedule
Released On: 1/272/283/284/285/276/297/288/299/2910/2711/3012/29
Release For: DecJanFebMarAprMayJunJulAugSepOctNov
 


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