US Pending Home Sales m/m
It's a leading indicator of economic health because the sale of a home triggers a wide-reaching ripple effect. For example, renovations are done by the new owners, a mortgage is sold by the financing bank, and brokers are paid to execute the transaction;
This data is released about a week later than Existing Home Sales, but it's more forward-looking as a contract is signed several weeks before the home is counted as sold;
- US Pending Home Sales m/m Graph
- History
| Expected Impact / Date | Actual | Forecast | Previous |
|---|---|---|---|
| Dec 30, 2024 | 2.2% | 0.9% | 1.8% |
| Nov 27, 2024 | 2.0% | -2.1% | 7.5% |
| Oct 30, 2024 | 7.4% | 1.9% | 0.6% |
| Sep 26, 2024 | 0.6% | 0.9% | -5.5% |
| Aug 29, 2024 | -5.5% | 0.2% | 4.8% |
| Jul 31, 2024 | 4.8% | 1.4% | -1.9% |
| Jun 27, 2024 | -2.1% | 0.6% | -7.7% |
| May 30, 2024 | -7.7% | -1.1% | 3.6% |
-
- US Pending Home Sales m/m News
From kitco.com|Dec 30, 2024The gold market is struggling to hold support at $2,600 an ounce and could face increased selling pressure as the U.S. housing market shows further signs of stabilizing as more consumers start the process of buying a new home, according to the latest data from the National Association of Realtors (NAR). The U.S. pending home sales index rose 2.2% in November, the NAR announced on Monday, after October’s 1.8% increase. The data was significantly better than forecasts, as economists expected a 0.9% increase. According to the report, ...
From nar.realtor|Dec 30, 2024Pending home sales increased 2.2% in November 2024, with the Midwest, South, and West regions of the U.S. experiencing month-over-month gains in transactions, while the Northeast decreased. Year-over-year, contract signings increased in all four regions, with the West leading the pack. According to NAR Chief Economist Lawrence Yun, "Consumers appeared to have recalibrated expectations regarding mortgage rates and are taking advantage of more available inventory. Buyers are no longer waiting for or expecting mortgage rates to fall ...
From bnnbloomberg.ca|Nov 27, 2024Pending sales of US homes unexpectedly rose to a seven-month high in October as a brief drop in mortgage rates lured buyers. A National Association of Realtors gauge of contract signings increased 2% to 77.4 last month. That was well above all estimates in a Bloomberg survey, the median of which called for a 2% drop. Homebuyers frustrated by elevated financing costs got a short-lived reprieve in late summer when mortgage rates hit a two-year low. That spurred a wave of homebuying that continued into October, even though rates began ...
- From nar.realtor|Nov 27, 2024
Pending home sales ascended in October – the third consecutive month of increases – according to the National Association of REALTORS®. All four major U.S. regions experienced month-over-month gains in transactions, with the Northeast leading the way. Year-over-year, contract signings increased in all four U.S. regions, led by the West. The Pending Home Sales Index (PHSI)* – a forward-looking indicator of home sales based on contract signings – elevated 2.0% to 77.4 in October. Year-over-year, pending transactions expanded 5.4%. An ...
From scotiabank.com|Oct 30, 2024Ok that title won’t win any prizes, but it gets across the point. The US economy grew strongly while generating light, but slightly stronger than expected inflation as ADP payrolls ripped higher and a leading indicator of existing home sales jumped higher. Key is the strength of the consumer. Bonds didn’t like that so much at first, with the 2-year yield rising by about 5bps post-releases before moderating this response as the UK budget’s effect on gilts with some spillover effects arrived, and the US launched missile strikes on ISIS ...
From cnbc.com|Oct 30, 2024Signed contracts to buy existing homes in September jumped a surprising 7.4% compared with August, according to the National Association of Realtors. Analysts had been expecting about a 1% gain. These so-called “pending” sales were at the highest level since March and 2.6% higher than September of last year. Since pending sales are based on signed contracts, representing people out shopping during the month, it is the most current indicator of buyer demand. It also shows just how sensitive today’s buyers are to mortgage rates. The ...
- From globenewswire.com|Oct 30, 2024
Pending home sales rose in September, according to the National Association of RealtorsÒ. All four major regions experienced month-over-month gains in transactions. Year-over-year, the Northeast and West registered increases while sales remained steady in the Midwest and South. The Pending Home Sales Index (PHSI)* – a forward-looking indicator of home sales based on contract signings – jumped 7.4% to 75.8 in September, the highest level since March (78.3). Year-over-year, pending transactions ascended 2.6%. An index of 100 is equal ...
- From nar.realtor|Sep 26, 2024
Pending home sales in August rose 0.6%, according to the National Association of REALTORS®. The Midwest, South and West posted monthly gains in transactions, while the Northeast recorded a loss. Year-over-year, the West registered growth, but the Northeast, Midwest and South declined. The Pending Home Sales Index (PHSI)* – a forward-looking indicator of home sales based on contract signings – increased to 70.6 in August. Year over year, pending transactions were down 3.0%. An index of 100 is equal to the level of contract activity in ...
| Released on Dec 30, 2024 |
|---|
| Released on Nov 27, 2024 |
|---|
| Released on Oct 30, 2024 |
|---|
| Released on Sep 26, 2024 |
|---|
- Details