Pending home sales fell by more than expected in February

A forward looking gauge of the US housing market fell less than expected last month as a tight supply of homes continued to weigh on activity. The pending home sales index fell 0.8 per cent in.

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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)

On a busy week of housing data, homebuilders stumbled as New and Existing Home sales Data fell. a few more months before recovering in late 2019. We’ll be closely watching PCE inflation data on.

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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

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.

*Note: C.A.R.’s pending sales information is generated from a survey of more than 70 associations of REALTORS® and MLSs throughout the state. Pending home sales are forward-looking indicators of future home sales activity, offering solid information on future changes in the direction of the market.

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.

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