Contracts to buy previously owned homes in the US climbed 7.4 percent from a year earlier in November 2019, above market expectations of a 5.8 percent gain. That was the largest annual increase in pending home sales since June 2015. Contracts rose in all 4 main regions: the West (+14.0 percent); the South (+7.7 percent); the Midwest (+5.0 percent); and the Northeast (+2.6 percent). On a monthly basis, pending home sales went up 1.2 percent, rebounding from a downwardly revised 1.3 percent fall in October. The West region reported the highest growth (+5.5 percent), followed by the Midwest (+1.0 percent); while the South (-0.2 percent) and the Northeast (-0.1 percent) reported declines. Pending Home Sales in the United States averaged 0.78 percent from 2002 until 2019, reaching an all time high of 30.90 percent in October of 2009 and a record low of -24.30 percent in April of 2011.

Pending Home Sales in the United States is expected to be 1.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Pending Home Sales in the United States to stand at -0.50 in 12 months time. In the long-term, the United States Pending Home Sales is projected to trend around 1.70 percent in 2020, according to our econometric models.

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United States Pending Home Sales

Actual Previous Highest Lowest Dates Unit Frequency
7.40 4.90 30.90 -24.30 2002 - 2019 percent Monthly
Volume Index, SA


Calendar GMT Actual Previous Consensus TEForecast
2019-09-26 02:00 PM Aug 2.5% -0.3% -1.9% -1.2%
2019-10-29 02:00 PM Sep 3.9% 2.3% 1.4% 1.2%
2019-11-27 03:00 PM Oct 4.4% 3.8% 12% 6.2%
2019-12-30 03:00 PM Nov 7.4% 4.9% 5.8% 4.7%
2020-01-29 03:00 PM Dec 1.9%


News Stream
2019-11-27
US Pending Home Sales Rise 4.4% YoY
Contracts to buy previously owned homes in the US jumped 4.4 percent from a year earlier in October of 2019 amid lower mortgage rates. That was the largest annual increase in pending home sales since December 2015, as contracts were up in all 4 main regions: the West (7.5 percent), the South (5.1 percent), the Northeast (3 percent) and the Midwest (1.8 percent). On a monthly basis, pending home sales shrank 1.7 percent, while markets were expecting a 0.8 percent rise. The Northeast experienced a minor uptick (1.9 percent), but the other three major US regions reported declines: the West (-3.4 percent), the Midwest (-2.7 percent) and the South (-1.7 percent). Lawrence Yun, NAR’s chief economist, noted the decline in inventory and a small rise in mortgage rates in October from September to, in part, explain this month’s signings drop. “While contract signings have decreased, the overall economic landscape remains favorable,” Yun said.

2019-10-29
US Pending Home Sales Rise the Most in 4 Years
Contracts to buy previously owned homes in the US jumped 3.9 percent from a year earlier in September 2019 amid lower mortgage rates, easily beating market expectations of 1.4 percent. That was the largest annual increase in pending home sales since December 2015, as contracts were up in the South (5.7 percent), West (3.4 percent), Midwest (2.7 percent), and Northeast (1.3 percent). On a monthly basis, pending home sales climbed 1.5 percent, while markets had forecast a 0.9 percent rise.

2019-09-26
US Pending Home Sales Rebound in August
Contracts to buy previously owned homes in the US jumped 2.5 percent from a year earlier in August 2019 amid lower mortgage rates, after falling 0.3 percent in July and easily beating market expectations of 1.9 percent drop. Pending home sales were up in the South (1.4 percent), West (3.1 percent), Midwest (0.6 percent), and Northeast (1.4 percent). On a monthly basis, pending home sales climbed 1.6 percent, while markets had forecast a 0.9 percent increase.

2019-08-29
US Pending Home Sales Fall in July
Contracts to buy previously owned homes in the US fell 0.3 percent from a year earlier in July 2019 despite lower mortgage rates, after posting the first increase in one-and-a-half years in June. Pending home sales were down in the Midwest (-1.2 percent) and Northeast (-0.9 percent), but were up in the South (0.1 percent) and West (0.3 percent). On a monthly basis, pending home sales slumped 2.5 percent, while markets had forecast a flat reading.

2019-07-30
US Pending Home Sales Rise for 1st Time in 1-1/2 Years
Contracts to buy previously owned homes in the US rose 1.6 percent in June 2019, following 17 consecutive months of decreases and beating market expectations of 1.4 percent, amid lower mortgage rates. Pending home sales were up across all regions: the South (1.4 percent); Midwest (1.7 percent); West (2.5 percent); and Northeast (0.9 percent). On a monthly basis, pending home sales jumped 2.8 percent, easily beating market consensus of 0.5 percent.

2019-06-27
US Pending Home Sales Fall in May
Contracts to buy previously owned homes in the United States dropped 0.7 percent from a year earlier in May 2019, following a 2.0 percent decline in the previous month. That was the 17th consecutive month of annual decreases, as sales fell in the West (-3.1 percent), Midwest (-1.2 percent) and Northeast (-0.5 percent). By contrast, home sales rose 0.7 percent in the South. On a month-over-month basis, sales surged 1.1 percent in May, more than an expected 1.0 percent advance and following a 1.5 percent drop in April.


United States Pending Home Sales
Pending Home Sales Index is based on sales of existing homes where the contract has been signed but the transaction has not been closed. The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined.

United States Housing Last Previous Highest Lowest Unit
Building Permits 1416.00 1474.00 2419.00 513.00 Thousand [+]
Housing Starts 1608.00 1375.00 2494.00 478.00 Thousand units [+]
New Home Sales 719.00 710.00 1389.00 270.00 Thousand units [+]
Pending Home Sales 7.40 4.90 30.90 -24.30 percent [+]
Existing Home Sales 5350.00 5440.00 7250.00 1370.00 Thousand [+]
Construction Spending 0.60 0.10 5.90 -4.80 percent [+]
Housing Index 0.20 0.70 1.20 -1.80 percent [+]
Nahb Housing Market Index 75.00 76.00 78.00 8.00 [+]
Mortgage Rate 3.87 3.91 10.56 3.47 percent [+]
Mortgage Applications 30.20 13.50 49.10 -38.80 percent [+]
Case Shiller Home Price Index 218.43 218.24 218.43 100.00 points [+]
Home Ownership Rate 64.80 64.10 69.20 62.90 percent [+]