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What is the pending home sales index?

April 26, 2017Home index sales

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What is the pending home sales index?

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The pending home sales index, based on contracts signed in a select month, monitors real estate market activity by tracking pending sales of homes reported. A sale is listed as ‘pending’ when a contract has been signed but the transaction has not closed. Sales are typically finalized within one or two months of signing. The pending home sales index was designed to mimic the report produced by the National Association of Realtors (www.realtor.org), a leading industry voice in the real estate industry.