Many people report on the National Association of Realtors’ Existing Home Sales Report which
quantifies the number of closed sales of single-family homes,
town homes, condominiums and co-ops. However, there is another report
that NAR releases each month that may be even more important - the Pending Home Sales Report which reveals the current Pending Home Sales Index.
According to NAR, the Pending Home Sales Index (PHSI) is
“a leading indicator for the housing sector, based on
pending sales of existing homes. A sale is listed as pending when the
contract has been signed but the transaction has not closed, though the
sale usually is finalized within one or two months of signing.”
The PHSI generally leads Existing Home Sales by a month or two and therefore is a more current pulse on home sales.
Author:Ann Marie Cancro Phone: 717-468-1301 Dated: September 10th 2014 Views: 391 About Ann Marie: LICENSED: Licensed Real Estate Professional since October 1990.
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