Pending resales decreased in three of four regions, today's report showed today. They fell 2.8 percent in the Northeast, 2.6 percent in the West and 1.1 percent in the South.
The existing-home sales report is based on a sample of about 40 percent of transactions in the multiple listing service used by real estate agents, while the pending-sales index covers about 20 percent.
Purchases of new homes, which are also based on signings
The index of pending home resales is considered a leading indicator of sales because it tracks contract signings. The Realtors' sales report tracks closings, which typically occur a month or two later.
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