Pending home sales rose in March, reversing course from a month prior, according to the National Association of Realtors. Three of the four major regions saw growth last month, as the Northeast reported a minor slip in contract activity.
Next release: Pending Home Sales for April 2019 will be released on Thursday, May 30, 2019 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.