Pending home sales experienced a minor decline in September after four consecutive months of contract activity growth. However, all four major U.S. regions recorded notable year-over-year increases.
Next release: Pending Home Sales for October 2020 will be released on Monday, November 30th, 2020 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.