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The Week Ahead: Analyzing Pending Home Sales

The National Association of Realtors (NAR) will release its March data on pending home sales on Monday, April 30, 2018, at 10 a.m. EST. The Pending Home Sales Index measures housing contract activity and is based on signed real estate contracts for existing single-family and multifamily homes. This index leads the NAR Existing Home Sales Index by a month or two because a home goes under contract a couple of months before it is sold.

The Pending Home Sales Index’s data for February indicated that pending home sales were up 3.1 percent over the previous month. However, the activity remained 4.1 percent below the same period last year. Regionally, pending home sales in the Northeast surged 10.3 percent but were 5.1 percent below a year ago; in the Midwest, they rose 0.7 percent; in the South, pending home sales increased 3 percent and they climbed 0.4 percent in West in February.

Here’s what else is in store for The Week Ahead:

  • CoreLogic Home Price Insights Report, Tuesday, 9 a.m. EST
  • Construction Spending Report, Tuesday, 10 a.m. EST
  • Ellie Mae Millennial Tracker, Wednesday
  • MBA Mortgage Apps, Wednesday, 7 a.m. EST
  • FOMC Meeting Announcement, Wednesday, 2 p.m. EST
  • Fed Balance Sheet, Thursday, 4.30 p.m. EST
  • Census Bureau Jobs Report, Friday, 8.30 a.m. EST

About Author: Radhika Ojha

Radhika Ojha is an independent writer and editor. A former Online Editor and currently a reporter for MReport, she is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her master’s degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas.
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