2018 Economic Calendar
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Pending Home Sales Index  
Released On 5/31/2018 10:00:00 AM For Apr, 2018
PriorPrior RevisedConsensusConsensus RangeActual
Pending Home Sales Index - M/M0.4 %0.6 %0.4 %0.0 % to 1.0 %-1.3 %
Pending Home Sales Index - Level107.6 107.8 106.4 

The resale market can't get going with today's 1.3 percent decline in pending sales, which is far below Econoday's low estimate, pointing to the risk of an outright downturn. Year-on-year, pending sales are down 2.1 percent which isn't auspicious news for final sales which, in last week's existing home sales report, were down 1.4 percent. Three of four regions show declines in pending sales with the Northeast coming in on top at no change.

The results of this report are especially important as they offer an advance indication at the beginning of the Spring selling season, one that, based on all the data including this report, is not off to a strong start. Lack of homes for sale and rising mortgage rates are not positives for the housing market, apparently offsetting strength in the labor market.

Consensus Outlook
Pending home sales are expected to increase 0.4 percent in April after rising 0.4 percent rise in March. More homes have been coming into the market which has been a plus for resales where trends, however, remain flat.

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

2018 Release Schedule
Released On: 1/312/283/284/305/316/277/308/299/2710/2511/2912/28
Release For: DecJanFebMarAprMayJunJulAugSepOctNov

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