Pending Home Sales
Total pending home sales offer a real-time view into buyer demand, showing how many homes are under contract across the U.S. each week. This number signals market activity and buyer engagement, making it a key indicator of housing demand and future sales.
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FAQ
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What are pending home sales?
Pending home sales refer to residential properties that are under contract but have not yet closed. This means a buyer has made an offer that the seller has accepted, but the transaction is still going through steps like financing, inspections, and title processing.
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Why are pending home sales important to the housing market?
Pending home sales are a leading indicator of housing market activity. Because they reflect homes that are likely to close in the near future, they offer an early look at demand trends, buyer behavior, and overall market momentum.
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How do pending home sales differ from closed sales?
Closed sales represent completed transactions where ownership has officially transferred. Pending sales occur earlier in the process, typically several weeks before closing, giving a more immediate view of buyer interest and market pace.
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What factors influence the number of pending home sales each week?
Key factors include mortgage rates, housing inventory, home prices, seasonality, and broader economic conditions such as employment and consumer confidence. Lower interest rates and higher inventory generally lead to increased pending sales.
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How can pending home sales data help predict housing market trends?
Tracking weekly pending sales can reveal shifts in buyer demand before they appear in closed sales data or pricing metrics. Analysts, investors, and industry professionals use this data to forecast market direction and make informed decisions.
