Highlights of the US pending home sales report:
- The decline follows three months of increases
- Sales fell in the Northeast and the South, but rose in the West and the Midwest.
- Index at 102.7
- Sales down 7.3% y/y vs -5.2% exp
- Prior was +6.1% m/m and -6.9% y/y
There have been some disappointing numbers in housing data lately, especially in housing starts. This is a lower tier housing indicator but doesn’t paint a much better picture.
