Pending Home Sales Index (PHSI) Definition

What is the Pending Home Sales Index (PHSI)?

The Pending Home Sales Index (PHSI) is an index created by the National Association of Realtors (NAR) which tracks home sales when a contract is signed, but the transaction has not yet closed.

The PHSI is a leading indicator of future sales of existing homes. It usually takes four to eight weeks to complete a home sale after signing the contract. 2001 was the first year that data was analyzed for PASS.

Key points to remember

  • The Pending Home Sales Index (PHSI) is a monthly ho