A pending home sale is a home under contract to sell, but not ye. Buyers are writing contracts at a furious pace nationwide. On a seasonally-adjusted basis, the Pending Home Sales Index rose 2 percent last month to reach its highest level since March.. Pending Home Sales Rise For 3rd Straight.
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Pending home sales rise for first time in 15 months: NAR. 3.8 percent from February to March, breaking a 15-month streak of straight drops.
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· The NAR’s pending home sales index dropped to a reading of 104.3, down 1.5% from the prior month. Economists polled by Reuters had forecast pending home sales would rise 0.9% last month.
Closed and pending single-family home sales increased year-over-year for the fifth consecutive month in June in the 57-town Harford. New listings decreased 15.7 percent from 1,783 to 1,503,
A "pending home sale" is a home under contract to sell, but not yet closed. The forward-looking Pending Home Sales Index is up 11 percent from its low of the year, according to the National Association of REALTORS, and well ahead of its rolling 6-month average.