Pending home sales increased in August, a welcome rebound after a prior month of declines. Each of the four major regions reported both month-over-month growth and year-over-year gains in contract activity.
Next release: Pending Home Sales for September 2019 will be released on Tuesday, October 29, 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.