Pending Home Sale Numbers Suggest Many Sales Ahead

Who holds the crystal ball on the real estate market? Well, the National Association of Realtors® thinks it does. And it's not off-base; NAR's monthly pending home sales report, which the trade group calls a "forward looking indicator" does provide a pretty good read on what's coming down the pike in the real estate market. You see, homes sales can't be measured in real time, as it takes between 30 and 60 days, on average, for a buyer and seller to actually transfer the home. (Of course, short sales and foreclosures can take longer to close -- much longer, sometimes.)