Pending home sales overall slipped in November, but saw minor increases in the Northeast and the West. The latest decline in contract signings implies more short-term pull back in the housing sector and does not yet capture the impact of recent favorable conditions of mortgage rates.
Next release: Pending Home Sales for December 2018 will be released on Wednesday, January 30, 2019 at 10:00 a.m. Eastern.
The Pending Home Sales Index (PHS), a leading indicator of housing activity, measures housing contract activity, and is based on signed real estate contracts for existing single-family homes, condos, and co-ops. Because a home goes under contract a month or two before it is sold, the Pending Home Sales Index generally leads Existing-Home Sales by a month or two.