Pending home sales increased 0.9% in July 2023 – rising for the second consecutive month. The Northeast and Midwest posted monthly losses, while sales in the South and West grew. All four regions of the U.S. saw year-over-year declines in transactions.
Next release: Pending Home Sales for August 2023 will be released on Thursday, September 28 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.