U.S. pending home sales falls sequentially in December, likely to fall further
Pending home sales in the U.S. fell sharply in December. On a sequential basis, pending home sales dropped 2.2 percent. Sales came in softer than Bloomberg consensus expectations of a rise of 0.5 percent. Pending sales f…
Pending home sales in the U.S. fell sharply in December. On a sequential basis, pending home sales dropped 2.2 percent. Sales came in softer than Bloomberg consensus expectations of a rise of 0.5 percent.
Pending sales fell in three of the major four regions, with the exception being the West. The annual trend of pending home sales softened considerably to a fall of 9.5 percent from a fall of 7.8 percent and is in line with a stable fall in sales activity throughout the U.S.
Pending home sales measure housing contract activity, and are based on signed real-estate contracts for existing single-family homes, condos and co-ops. Around 80 percent of pending homes sales might become existing home sales in two months. Therefore, the December report implies a further all in home sales, said Barclays in a research report.
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