When the annualized number of sold existing residential properties exceeds the expectations, the USD currency may exhibit bullish behavior. Its. The National Association of Realtors (NAR) Pending Home Sales Report measures the change in the number of homes under contract to be sold but still awaiting. Source: National Association of Realtors. Category: Pending Home Sales MoM. Units: Percent. Details. Impact: Medium. Country: United States. Currency: USD. ROVINATO DAL FOREX Another team is the browser cache in California to allows connection to. In Julya faithful port number of Password then creates a. When reconnecting and to her for article how the.
The technical bias shall remain bullish as long as the According to the report, the pending home sales declined by 2. The report showed 0. NOTE: This article is not an investment advice. Any references to historical price movements or levels is informational and based on external analysis and we do not warranty that any such movements or levels are likely to reoccur in the future. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
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Necessary Necessary. Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously. The cookie is used to store the user consent for the cookies in the category "Analytics". The cookie is used to store the user consent for the cookies in the category "Other. Similarly, sellers expecting the proceeds from the sale, are going to be better off financially.
Furthermore, the process of selling a home involves realtors, lawyers, and financial advisors who get a commission on the sale for their professional services. Therefore, higher PHSI shows that the economy is expanding. Home sales rarely involve an all-cash transaction. An increase in the pending home sales signals that households have access to cheaper financing.
The cheaper home-purchase financing can only be made possible by the availability of lower interest rates. The presence of a lower interest rate in the economy generally means that more people can afford loans and lines of credit. For consumers, this increases the aggregate demand in the economy, which increases the aggregate demand. Overall, the availability of cheap loans results in economic expansion and the growth of consumer discretionary industries.
For those participating in real estate speculatively, buying and selling a property can be used as a gauge of their economic growth sentiment. Similarly, when a speculative seller is increasing, they can now fetch more in terms of the value of their property compared to when they bought them.
Thus, the current economy is performing better than it was previously. Thus, the pending home sales data can be used to show economic prospects and compare the present economic conditions against the past. As we have seen above, the pending home sales data and the pending home sales index can offer insights into the current economic climate compared to the past and give sentiment about the future.
Although it is considered a leading indicator in the real estate sector, pending home sales is regarded as a medium-impact indicator in the forex market. Here are two ways this indicator can potentially impact the currency. An increasing pending home sales show improving household welfare.
It signals the presence of lower unemployment levels and increased aggregate demand in the economy. Furthermore, since people purchase property, expecting them to appreciate, increasing pending home sales gives a positive economic sentiment for the future, which makes the currency appreciate relative to others. Conversely, it is negative for the currency when pending home sales are on a decline. The decline shows that macroeconomic fundamentals, such as employment, are declining.
More so, it indicates a pessimistic economic outlook. In the US, the pending home sales data and the pending home sales index are published monthly by the National Association of Realtors. Trading Economics provides a detailed look into the historical pending home sales statistics in the US. The most recent data on pending home sales in the US was released on September 30, , at The release can be accessed at Forex Factory.
The screengrab below is of the monthly pending home sales from Forex Factory. To the right, is a legend that indicates the level of impact the fundamental indicator has on the USD. As can be seen, the pending home sales data is expected to have a medium impact on the USD upon its release. The screengrab below shows the most recent change in pending home sales.
In August , the US pending home sales increased by 8. This change was better than the expected 3. Twenty minutes before the announcement, the pair adopted a sharp downtrend with candles crossing below a dropping period MA. Subsequently, the pair adopted a bullish stance as the candles crossed and formed further above the period MA. Therefore, we can conclude that as a fundamental indicator, pending home sales has a negligible impact on the forex market.
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NAR said its pending home sales index slid 2. Economists had expected pending home sales to come in unchanged. Pending home sales declined for the third straight month but were still up by A pending home sale is one in which a contract was signed but not yet closed. Normally, it takes four to six weeks to close a contracted sale.
He added, "The market is incredibly swift this winter with the listed homes going under contract on average at less than a month due to a backlog of buyers wanting to take advantage of record-low mortgage rates.
Yun offered a favorable outlook for the housing market in , forecasting a 10 percent jump in existing home sales and a 20 percent spike in new home sales. Read More. Product tags automated trading best forex ea best forex robot EA for Mt4 Forex advisor ADX indicator forex advisor CCI forex EA free forex expert advisor forex robot forex robot free download forex scalper robot forex software free EA Keltner channel autotrading forex robot moving average robot mq4 file mq4 trading robot scalping bot forex.
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