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As escalating mortgage rates and housing prices impacted potential buyers, pending sales fell in all four major regions in June 2022, with the West experiencing the largest monthly decline.
Next release: Pending Home Sales for July 2022 will be released on Wednesday, August 24, 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.