US pending home sales for August -2.0% vs. -1.4% expected

Pending home sales for August 2022:

• prior month -1.0% revised to -0.6%
• pending home sales -2.0% vs. -1.4% expected
• pending home sales index 88.4 vs. 90.2 last month (revised from 89.8).
• Midwest -5.2% to 88.4
• Northeast -3.4% to 76.6
• South -0.9% to 105.4
• West rose 1.4% to 71.0

In index above 100 coincides with a higher level of activity relative to 2001

The Pending Home Sales Index (PHS), a leading indicator of housing activity, measures housing contract activity, and is based on signed real estate contracts for existing single-family homes, condos, and co-ops. Because a home goes under contract a month or two before it is sold, the Pending Home Sales Index generally leads Existing-Home Sales by a month or two.

\Inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term