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US Pending Home Sales Barely Bounce Off Record Lows Despite Tumbling Rates In Feb
US Pending Home Sales Barely Bounce Off Record Lows Despite Tumbling Rates In Feb
After reaching a record low last month - with the decline blamed on weather - pending home sales bounced modestly in February (up 1.8% MoM vs -0.6% MoM exp and -10.% MoM prior).
Year-over-year home sales continue to decline (down 0.6% YoY)...
Source: Bloomberg
...just barely off of all-time-record lows...
Source: Bloomberg
Pending home sales in the South, the biggest home-selling region in the country, increased 2.7%.
They rose 4.6% in the Midwest and edged up in the West.
Contract signings dropped in...
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