Pending Homes Sales Plunge, Surprising Economists

 

 

 

 

” This pending home sales index fell to 92.4 from a downwardly revised 101.2 in November. These signed contracts are an indicator of sales in January and February, and are at the lowest level since October 2011.

  December pending home sales drop 8.8% YOY CNBC’s Diana Olick says the National Association of Realtors reports December pending home sales dropped 8.7 percent. The high drop is contributed to exceptionally bad winter weather.

  All four major regions in the U.S. saw declines. Of these, the Northeast saw the steepest fall while the Midwest’s drop was smallest in December from the month before.”

 

See related “recovery” story : Jobless Claims Jump As Growth Slows
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