If you are wondering why you haven’t seen the Pending Home Sales Report yet….
Since its inception in 2005, the Pending Home Sales Report by the National Association of Realtors has been one of the earlier economic reports that we see every month. A cursory check of the NAR’s releases showed that with the exception of one release on the 6th, the report is always released between the 1st and the 5th of the month. This month however, with virtually no fanfare, the report has been delayed to be released with the housing forecast. This month that means the report will not be released until November 13th. December’s release has been moved back until the 10th. It appears from the 2008 release calendar that this change will be permanent.
I have seen no explanation for the delay given by the NAR, but I have to believe that in the euphoric days of 2005, releasing all those pending home sales early in the month was an opportunity to encourage buyers to buy before the bargains are all gone. To release it early now is probably discouraging already unenthusiastic buyers.
