US DATA: Feb NAR Pending Home Sales Index -0.5% to 96.5, but
remains +9.2% YOY and remains above the H1:2011 pattern. NAR says they
still expect existing home sales to be up 7-10% this yr because there
are more contract offers. The PHSI in the Northeast slipped 0.6 percent
to 77.7 in February but is 18.4 percent above a year ago. In the
Midwest the index jumped 6.5 percent to 93.8 and is 19.0 percent higher
than February 2011. Pending home sales in the South fell 3.0 percent to
an index of 105.8 in February but are 7.8 percent above a year ago. In
the West the index declined 2.6 percent in February to 99.3 and is 1.8
percent below February 2011.