The National Association of Realtors’ index for pending U.S. home resales fell 3.2% in July (10.6% in the West).

The pending resales report is considered a leading indicator because it tracks contract signings. Closings, which typically occur a month or two later, are tallied in a separate report from the Realtors.

That being said, keep in mind that seasonality is very much in play (and pending resales were not down YOY in the West).
U.S. Pending Home Resales Decline More Than Forecast [Bloomberg]

6 thoughts on “U.S. Pending Home Resales Fall 3.2% MOM (10.6% In The West)”
  1. But for the combination of Russian Hill, North Beach and Telepraph Hill, which is what I am consistently watching, there is 1 or 2 new listings since Sept 1.

  2. Not to mention, condo sales for the month of August looked quite solid considering it is traditionally a slower month. August was quite near July volumes and medians, which were fantastic.
    But we shall see what the fall brings.

  3. anon where did you get your data that august was near July volumes and medians?
    I have the following for listed condo sales
    Aug 08: 194 sales, $685 mean psf, $725K median
    Jul 08: 264 sales, $716 mean psf, $776.1K median
    Aug 07: 283 sales, $716 mean psf, $720K median
    so medians yes, volumes no

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