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Here Comes Pending Home Sales...

Mamta BadkarOct 28, 2013, 19:03 IST

REUTERS/Richard Clement

September pending home sales are out at 10 a.m. ET.

Economists polled by Bloomberg are looking for pending home sales to stay flat, compared with a 1.6% month-over-month fall in August.

Meanwhile, on the year, pending home sales are expected to rise 3.6%, compared with a 2.9% in August.

Investors watch this number because it is considered a leading indicator of the housing market.

The PHSI looks at all homes where a contract has been signed but the sale is not complete.