2010 Economic Calendar
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Pending Home Sales Index  
Released On 12/30/2010 10:00:00 AM For Nov, 2010
Pending Home Sales Index - M/M10.4 %3.5 %
Pending Home Sales Index - Level89.3 92.2 

The housing sector may be climbing up from the bottom but if so, it looks like the climb is slow. Pending sales of existing homes rose 3.5 percent in November, a respectable rate yet well below the 10.1 percent jump in October that ended a run of declines (October initially reported at plus 10.4 percent). November's gain also doesn't show any breadth. The key region, the South, shows a small decline with the Midwest showing a more sizable decline. The Northeast shows a small increase while the West, the smallest and most volatile region, shows a big jump.

Pending home sales, which are based on contract signings, offer indications on future sales of existing homes, which are based on closings. Today's report does point to a gain for existing homes sales, which jumped 5.6 percent in November, yet it points to a slowing gain. Affordability and still low rates are positives for the housing market where however foreclosures and soft labor conditions still pose major risks.

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

2010 Release Schedule
Released On: 1/52/23/44/55/46/27/18/39/210/411/512/212/30
Release For: NovDecJanFebMarAprMayJunJulAugSepOctNov

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