US June pending home sales +0.3% vs -0.5% expected

<ul><li><a href="https://www.forexlive.com/news/us-may-pending-home-sales-27-vs-05-expected-20230629/" target="_blank" rel="follow">Prior </a>was -2.7%</li><li>Index 76.8 vs 76.5 prior</li></ul><p>This is a decent forward-looking indicator and a nice rebound after a poor number in May. I think it's clear that there are people who want to buy homes, it's just that inventories of homes for sale are very low and mortgage rates are high.</p><p>The pending home sales report measures to the number of homes that have
been sold but not yet closed. Essentially, a contract has been signed
but the transaction has not yet been completed. The National Association
of Realtors (NAR) releases a Pending Home Sales Index (PHSI) each month
that measures housing contract activity. The data is based on signed
real estate contracts for existing single-family homes, condos, and
co-ops. This is a forward-looking indicator as it represents
transactions that will be closed in the coming months</p>

This article was written by Adam Button at www.forexlive.com.