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Pending Home Sales Index

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Definition of 'Pending Home Sales Index'

During the first week of the month the National Association of Realtors release the Pending Home Sales Index. The data in this index covers the period two months earlier. For example, January's data is released in March.

This is a leading indicator of existing home sales in the housing market. It does not include new home sales. A pending home sale is defined as one in which a contract has been signed by closing has not yet taken place. Closing a contract usually takes between four and six weeks.

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