Pending home sales fell by more than expected in February

"As a whole, these numbers indicate that a cyclical low in sales is in the past but activity is not matching the frenzied pace of last spring," NAR Chief Economist Lawrence Yun said in a statement..

(Bloomberg) — Contract signings to purchase previously owned U.S. homes fell more than estimated in February, suggesting that the prior month’s surge resulted from pent-up demand and that a sustainable recovery may take more time. The index of pending home sales fell 1 percent from the prior month, after a downwardly revised 4.3 percent.

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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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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.

WASHINGTON (Reuters) – U.S. home sales fell more than expected in March as rising demand stoked by. to a seasonally adjusted annual rate of 5.21 million units last month. February’s sales pace was.

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Falling interest allowed people with flat incomes to keep purchasing increasingly expensive homes. Since people buy payments more than house. New home sales were expected to start rising again in.

Contracts To Buy US Homes Fell In February Pending Home Sales, February 2016 – Business Insider – akin oyedele/business insider pending home sales jumped 3.5% in February, to the highest level in seven months, according to the National Association of Realtors (NAR).

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. County in February, pending sales of single-family homes fell by a double-digit margin.. The median home price did rise in March to more than $325,000.. favor either seller or buyer is thought to be in the range of four to six months.. Pending sales were flat, with 564 units in the pipeline last month,