Pending home sales crept higher in May, ending a six-month streak of declines. However, year-over-year contract activity slid in all four regions of the U.S.
Next release: Pending Home Sales for June 2022 will be released on Wednesday, July 27, 2022 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.