The National Association of Realtors® releases home sale predictions
The National Association of Realtors® uses their PHSI indicator (Pending Home Sales Index) to predict that home sales will remain strong. NAR states that "...based on data collected for February, [the PHSI] stands at 123.2, which was 2.2 percent above January and 10.4 percent above February 2004. The index is based on pending sales of existing homes, including single-family and condo. A home sale is pending when the contract has been signed but the transaction has not closed. Pending sales typically close within one or two months of signing."
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