U.S. Pending Home Sales Fell by More Than Expected in February The data add to a mixed picture of the U.S. housing market; increased demand for homes in coming months. Read More
Contract signings to purchase previously owned U.S. homes fell more than estimated in February, suggesting that the prior month’s surge resulted from pent-up demand and that a sustainable recovery may.
Pending sales are based on signed contracts that have not yet closed, so they are a gauge of future sales. SEE ALSO: existing home sales ease in February from a 10-year high More: Pending Home Sales
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Contract signings to purchase previously owned homes fell more than estimated in February, suggesting that the prior month’s surge resulted from pent-up demand and that a sustainable recovery may take more time. The index of pending home sales fell 1% from the prior month, after a downwardly revised 4.3% increase in January, according to data released Thursday from the National Association of Realtors in Washington. The gauge fell 5% from a year earlier following a 3.3% annual decline.
Normally, it takes four to six weeks to close a contracted sale. Despite the bigger than expected monthly increase, NAR said pending home sales in February were still down by 4.1 percent compared.
US New Home Sales Fall Much More than Expected Sales of new single-family houses in the United States slumped 6.9 percent from the previous month to a seasonally adjusted annual rate of 607 thousand in January of 2019, following an upwardly revised 652 thousand in December and worse than market expectations of 620 thousand.
THE TAKEAWAY: [US Pending Home Sales fell more than expected in February] > [Inventory shortage held back a further recovery in housing, while demand remains high] > [USD/CAD Bullish] The number.
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(Bloomberg) — Contract signings to purchase previously owned U.S. homes fell more than estimated in February, suggesting that the prior month’s surge resulted from pent-up demand and that a sustai.
With home price growth at the slowest rate since 2012, rates falling, and existing home sales having rebounded notably, pending home sales are expected to slow very modestly in February after rebounding in January, but they fell more than expected.. pending home sales fell 1.0% MoM (against expectations of a 0.5% decline)
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