Contract activity rose month-over-month in each of the four major U.S. regions. On a year-over-year basis, however, transactions were split, as the Northeast and West reported drops and the Midwest and the South posted gains.
Next release: Pending Home Sales for November 2021 will be released on Wednesday, December 29, 2021 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.