Pending home sales fell by more than expected in February

US 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..

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(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.

Even so, rising wages and lower mortgage rates are likely to support demand for homes in coming months, along with the US Federal Reserve’s pledge to remain patient on raising borrowing costs. "As a.

Mortgage applications increase on higher purchase volume Weekly mortgage refinances spike 39% after huge rate drop – Volume was 58 percent higher than a year ago, when interest rates were higher. Mortgage applications to purchase a home increased 3 percent. as we saw another sizable increase in the average.

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We’ll email you login details shortly. THE TAKEAWAY: [US Pending Home Sales fell more than expected in February] > [inventory shortage held back a further recovery in housing, while demand remains.

WASHINGTON, April 22 (Reuters) – U.S. home sales fell more than expected in March, pointing to continued weakness in the housing market despite declining mortgage rates and slowing house price gains.

Pending home sales fell again in February. The National Association of Realtors® said its Pending Home Sales Index (PHSI) declined by 1.0 percent compared to January to a level of 101.9. The index is.

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.

Pending Home Sales Fall More Than Expected (DIA, SPY, QQQ. – Pending Home Sales Fall More Than Expected (DIA, SPY, QQQ, TLT, XHB). Expectations were for pending home sales to fall 0.5% month-over-month and fall 1.4% on a year-over-year basis.