Highlights
Stability unfortunately in the housing market is still uncertain, the latest indication from the pending home sales index which fell 4.7 percent in May to 84.7. But on the positive side, the dip follows a nice 7.1 percent spike in April with the current year-on-year rate roughly stable at -14.0 percent, a bit softer than April but still much better than a long string of prior declines in the 20 percent range. Details show roughly equal declines across regions.

The National Association of Realtors, which publishes the report, notes that price conditions "vary tremendously" depending on a neighborhood's exposure to subprime loans. This report doesn't offer specific price data but prices in other reports have yet to stabilize, a factor that is eating at household health. Financials markets bounced back and forth in immediate reaction to the data before stabilizing at pre-data levels. Data from home builders, which have been particularly weak, will be posted next week.

2008 Release Schedule

Released On: 1/8 2/7 3/6 4/8 5/7 6/9 7/8 8/7 9/9 10/8 11/7 12/9 Released For: Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct