A real estate transaction for which a contract has been signed but that has not closed. Brokers who are members of multiple listing services may report sales when a contract is signed. Such transactions are not counted as sales until they close, since some sales contracts are never consummated.
See backup contract.


Example: The sales pending statistic is a predictor of sales one or two months in the future since a large percentage of sales contracts result in closed sales.

Previous:	Safe Rate, Safe Harbor
Next:	Sale-Leaseback, Sales Associate

---

Dictionary of Real Estate Terms. Copyright © 2008 by Barron's Educational Series, Inc. All rights reserved.

---