Global| Dec 29 2011U.S. Pending Home Sales Surge Again
Summary
The National Association of Realtors (NAR) reported that pending sales of existing single-family homes surged further by 7.3% in November after October's 10.4%. The index level (2001=100) reached 100.1, the highest since April 2010. [...]
The National Association of Realtors (NAR) reported that pending sales of existing single-family homes surged further by 7.3% in November after October's 10.4%. The index level (2001=100) reached 100.1, the highest since April 2010. All four major regions of the country participated, with the West having the largest gain over the month, 14.9%, while the Northeast was up 8.1%, the South 4.3% and the Midwest 3.3%. All regions are above their year-ago volumes except the Northeast, which is just 0.3% under November 2010.
Pending home sales figures are analogous to the new home sales data from the Commerce Department in that they measure existing home sales when the sales contract is signed, not at the time the sale is closed. The series dates back to 2001 and the data are available in Haver's PREALTOR database.
| Pending Home Sales (2001=100) | Nov | Oct | Sep | Y/Y % | 2010 | 2009 | 2008 |
|---|---|---|---|---|---|---|---|
| Total | 100.1 | 93.3 | 84.5 | 5.9 | 89.4 | 94.5 | 87.0 |
| Northeast | 77.1 | 71.3 | 60.6 | -0.3 | 71.6 | 76.6 | 73.5 |
| Midwest | 91.6 | 88.7 | 71.5 | 9.4 | 80.3 | 88.6 | 81.1 |
| South | 103.8 | 99.5 | 91.6 | 8.7 | 97.0 | 98.0 | 89.8 |
| West | 121.2 | 105.5 | 105.8 | 2.9 | 100.8 | 109.3 | 99.4 |
Carol Stone, CBE
AuthorMore in Author Profile »Carol Stone, CBE came to Haver Analytics in 2003 following more than 35 years as a financial market economist at major Wall Street financial institutions, most especially Merrill Lynch and Nomura Securities. She has broad experience in analysis and forecasting of flow-of-funds accounts, the federal budget and Federal Reserve operations. At Nomura Securites, among other duties, she developed various indicator forecasting tools and edited a daily global publication produced in London and New York for readers in Tokyo. At Haver Analytics, Carol is a member of the Research Department, aiding database managers with research and documentation efforts, as well as posting commentary on select economic reports. In addition, she conducts Ways-of-the-World, a blog on economic issues for an Episcopal-Church-affiliated website, The Geranium Farm. During her career, Carol served as an officer of the Money Marketeers and the Downtown Economists Club. She has a PhD from NYU's Stern School of Business. She lives in Brooklyn, New York, and has a weekend home on Long Island.
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