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Pending home sales fell by more than expected in February

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New-Home Sales Rise 4.9% in February. Posted on. Gain is larger than most analysts expected. More. Tags: Sales · Pending Home Sales Slip a Bit. Posted on .

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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.

In the past year pending home sales have dropped 0.7%. Lawrence.. Jobs growth is expected to remain solid which should boost income.. More than 50% of the homes coming to market sell within one month. real estate loans rose at a 3.9% pace in February after having climbed 4,4% in January (the light blue bars).

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.

“Activity is notably higher than earlier this year as prices have moderated and. Pending home sales in the South dipped 2.4 percent to an index of 113.8 in June , and. Yun expects existing-homes sales to be down 2.8 percent this year to 4.95.. a slightly slower rate than February's 12.9 percent surge but well above Wall.

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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 released Thursday from the National Association of Realtors in Washington. The gauge fell 5% from a year earlier following a 3.3% annual decline.

Home > Newsletter > U.S. Pending Home Sales Fell by More Than Expected in February U.S. Pending Home Sales Fell by More Than Expected in February The data add to a mixed picture of the U.S. housing market; increased demand for homes in coming months.