Pending Home Sales Index

What is PHSI?

After several years of study and data collection, the NATIONAL ASSOCIATION OF REALTORS® developed the Pending Home Sales Index (PHSI), a new leading indicator of housing market activity.

Based on the data from Multiple Listing Services (MLSs) and large brokers, the index provides advance information on future home-sales activity and offers more solid information on changes in the direction of the market than any of the indicators currently available.

Specifically, Pending Home Sales become Existing-Home Sales one-to-two months later. This means that we can use an index derived from Pending Home Sales to predict actual home sales activity.

Pending Home Sales Index vs Existing Home Sales
Pending Home Sales Index vs Existing Home Sales
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