That said, even the value of regional data can be questioned. Like all things in real estate, the number of homes going under contract will vary on the local level. For example, in the Northeast Region where pending home sales slipped in August, there are close to a dozen states. Some of those states performed better than others, and there is no doubt that cities and towns exist in the region in which pending home sales actually climbed. As a national/regional report, the Pending Home Sales Index cannot show local market data and, for that reason, it's somewhat irrelevant to everyday buyers and sellers in Bethesda. If you're in the market to buy or sell a home today, it's your local housing market data that matters to you. We watch the Pending Home Sales Index because it paints a broad picture of housing nationwide. To get local market conditions, though, you'll want to talk with a local real estate professional.