Pending home sales in July achieved another month of positive contract activity, marking three consecutive months of growth. Each of the four major regions saw gains in both month-over-month and year-over-year pending home sales transactions.
Next release: Pending Home Sales for August 2020 will be released on Wednesday, September 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.