Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

Pending Home Sales Disappoint, Slip To 4-Month Lows

Courtesy of ZeroHedge View original post here.

Pending home sales data today is tie-breaker after weaker existing home sales and stronger new home sales in November.

Pending home sales rose 1.2% MoM (less than expected) and historical data was revised modestly higher (leaving sales up 5.6% YoY)

Source: Bloomberg

“Favorable conditions are expected throughout 2020,” though supplies still aren’t sufficient to meet healthy demand, Lawrence Yun, NAR’s chief economist, said in a statement.

Builder confidence levels are high, so we just need housing supply to match and more home construction to take place in the coming year.”

But, thanks to historical revisions, the pending home sales index slipped to 4-month lows

Source: Bloomberg

The increase was led by a rebound in the West, which climbed 5.5%from the prior month. Signings were up 1% in the Midwest and were down in the South and Northeast.

 

 


Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!





You must be logged in to make a comment.
You can sign up for a membership or get a FREE Daily News membership or log in

Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!