I think P has been explained pretty well. You may also see PB. That is pending but taking backups. This is another option the home can be listed as while it is under contract. This can be chosen over pure pending for many reasons no reasons at all. The agent may not feel the offer is very solid for some reason or they just want to allow for the opportunity for a backup contract.
REALTORÂ® | Mortgage Broker
Keller Williams Realty | 360 Lending Group