Pending home sales fell by more than expected in February

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Contract signings to purchase previously owned 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% from the prior month, after a downwardly revised 4.3% increase in January, according to data.

The bigger than expected rebound in pending home sales was partly due to a spike in the Northeast, where pending sales surged up by 10.3 percent. Pending home sales in the South also climbed by 3.

Atlanta Real Estate Market Update | Jan. 2019 U.S. existing home sales fall more than expected in March. –  · WASHINGTON (Reuters) – U.S. home sales fell more than expected in March, pointing to continued weakness in the housing market despite.

Contract signings to purchase previously owned 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% from the prior month, after a downwardly revised 4.3% increase in January, according to data released Thursday from the National Association of Realtors in Washington. The gauge fell 5% from a year earlier following a 3.3% annual decline.

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Higher prices, tax changes and rising interest rates expected to damp. Consumer confidence in the housing market fell in February, Pending home sales, an indicator of activity in the months to come, dipped 4.7% in January to their lowest level in more than three years, according to the Realtors.

A separate report this week showed new-home groundbreakings fell in February by the most in eight months, while other data indicate existing home sales rebounded last month to the best pace in almost a year.

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Here's what you need to know about buying or selling homes and real estate in the.. This was probably due to low inventory combined with a very slow Dec- Feb.. Pending homes (next month's sales) are the best forward-looking indicator of buyer. A slow-down in demand is more likely to solve the supply shortage than.

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