Pending home sales data from the National Association of Realtors:
- Prior reading was +0.1%
- Year-over-year sales fell 10.2% compared to -9.0% expected
- Prior sales y/y was -9.1%
Most market-watchers and traders are confident that housing is in a small lull before another leg higher but numbers like this raise questions about the sustainability of the recovery. No reaction in markets.
