Tags: home sales | economy | real estate | property

Pending Home Sales Hit Seven-Month High in February

Monday, 28 Mar 2016 10:09 AM

Contracts to buy previously owned U.S. homes rose sharply in February, reversing the previous month's deep decline, as the volatility of the data continues to make it difficult to parse the strength of the housing market.

The National Association of Realtors said its pending home sales index rose 3.5 percent to 109.1 last month, the highest level in seven months. January's reading was revised to show a 3.0 percent decline, which was deeper than initially reported.

Economists polled by Reuters had forecast contracts rising 1.2 percent last month.

Pending home contracts become sales after a month or two. Contracts were up 0.7 percent from a year ago.

 

© 2017 Thomson/Reuters. All rights reserved.

 
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Economy
Contracts to buy previously owned U.S. homes rose sharply in February, reversing the previous month's deep decline, as the volatility of the data continues to make it difficult to parse the strength of the housing market.
home sales, economy, real estate, property
107
2016-09-28
Monday, 28 Mar 2016 10:09 AM
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