Economic Charts

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Thursday, January 27, 2011

Monthly Pending Home Sales

The Pending Home Sales for December 2010 was released today showing tepid growth.  Pending Home Sales is change in the number of homes under contract to be sold but still awaiting the closing transaction, excluding new construction. It's a leading indicator of economic health due to the ripple effects it has in the economy (mainly in the financial and home improvement).  The forecast called for an improvement of .9%, but the actual headline number came in at 2.0%.
The West performing the worst of the regions in pending home sales, which could be an indicator of January's new home sales or existing home sales number.

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