Pending home sales grew in February for the third consecutive month. Three U.S. regions posted monthly gains, while the West declined. All four regions saw year-over-year decreases in transactions.
Next release: Pending Home Sales for March 2023 will be released on Thursday, April 27, 2023 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.