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宏观与周期

Pending home sales

/ˈpendɪŋ həʊm seɪlz/
待完成销售量 —— 指卖家已经接受出价、但交
macro 1 篇文章 更新于 2026-11-12 15:24 CEFR B2

01定义Definition

Pending home sales count homes where a seller has accepted an offer but the deal has not yet closed. It is the fastest-moving gauge of housing demand: it tells you what happened a few weeks ago, while closed sales tell you what happened two months ago.

待完成销售量 —— 指卖家已经接受出价、但交

04数字怎么看The numbers

Move变动Where it appeared出现位置What it means这句话在说什么
4%US pending home sales fall to a 12-year low as mortgage rates top 7%
待完成销售量 —— 指卖家已经接受出价、但交 · 第 2 张术语卡
Pending sales fell 4% from August and declined year on year in all 50 of the biggest metros — the earliest hard evidence that the rate rise has reached real buyers.
理解房地产数据要看「时间差」。链条是:看房 → 签约(pending)→ 交割(closed),中间通常 30 到 60 天。所以签约量是先行指标,成交量是后置指标。9 月的签约量下降,反映的是 9 月的利率;9 月的成交量下降,反映的其实是 7、8 月的利率。判断趋势拐点时先看签约量,判断当期利润(比如中介、按揭、装修、家具零售的收入)才看成交量。

08延伸阅读Further reading

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