It typically takes 1-2 months to complete the sale after a contract has been signed. The National Association of Realtors reports the pending home sales index in the first week of each month as statistical news.
Researchers use the pending home sales index during economic analysis to forecast the integrity of the contribution of the real estate market. Tracking housing contract activity to strengthen the predictive capacity of economic statistical reports.
Pending home sales are calculated and recorded as a product to be utilized throughout the Real Estate Industry. Calculations are reported as regional and national numbers.
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