Pending Home Sales
Pending home sales refer to the number of homes that have gone under contract but have not yet closed. This figure is used to measure the health of the housing market and is released monthly by the National Association of Realtors (NAR). It is an important indicator of the direction of the housing market and can be used to predict future trends in home prices and sales.
History of Pending Home Sales
The NAR began tracking pending home sales in 2001 as a way to measure the health of the housing market. Since then, the index has become an important indicator of the direction of the housing market. It is used to predict future trends in home prices and sales, as well as to gauge the overall strength of the housing market.
The index is based on a survey of real estate agents and brokers who report on the number of homes that have gone under contract but have not yet closed. The index is released monthly and is considered to be a leading indicator of the direction of the housing market.
Table of Comparisons
| Month | Pending Home Sales |
|---|---|
| January | 3.5% |
| February | 2.3% |
| March | 1.7% |
| April | 2.2% |
| May | 3.1% |
Summary
Pending home sales are an important indicator of the direction of the housing market. They are released monthly by the National Association of Realtors and are used to predict future trends in home prices and sales. For more information on pending home sales, visit the NAR website or consult a real estate agent or broker.
See Also
- Housing Market
- Home Prices
- Real Estate Agents
- Real Estate Brokers
- Mortgage Rates
- Home Sales
- Housing Starts
- Housing Inventory
- Home Affordability
- Home Appreciation
