Pending Home Sales
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A sale pending sign is displayed in front of a home for sale may 24 2010 in san rafael california.
Pending home sales. An index created by the national association of realtors nar that tracks homes sales in which a contract is signed but the sale has not yet closed. The pending sale cancels and the home goes back on the market if the seller refuses these options. Pending home sales index phsi. Government incentives and low mortgage rates helped april home sales surge 7 6 percent in.
Pending home sales based on contract signings rose 8 8 in august from a month ago far surpassing analysts estimates of a 3 1 increase according to bloomberg. According to trulia 3 9 percent of sales failed in 2016 which is an increase over previous years. Pending home sales for august 2020 will be released on wednesday september 30th 2020 at 10 00 a m. The pending home sales index phsi which is a forward looking indicator of home sales based on contract signings rose 8 8 to 132 8 in august.
Pending home sales were down in all regions. 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. How often does a pending sale fall through. Hire a qualified home inspector who can explain the defects to you and their significance.
On a monthly basis pending home sales went down 21 8 also the largest drop on record after a 20 8 percent plunge in march and worse than forecasts of a 15 percent fall. That means that the vast majority of sales close but deals can fall apart for many different reasons. It is the fourth. The northeast 52 6 the midwest 26 the south 29 6 and the west 37 2.
Reasons why pending home sales fall through home inspection contingency. Sales were 24 2 higher than august 2019. The index of pending home sales rose 8 8 in august as compared with july hitting a new all time high the national association of realtors reported wednesday.
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