Pending Home Sales Tumble Most Since 2013 Amid “Signs Of A Slowing US Economy”
by Tyler Durden
ZeroHedge.com
10/29/2015
Following the carnage in new home sales in September, amid sliding mortgage apps and despite soaring homebuilder sentiment, pending home sales in September also plunged – dropping 2.3% MoM (missing expectations of a 1.0% rise) and worse still from a downwardly revised history. This is the biggest MoM drop sicne Dec 2013 andthe second lowest level of pending home sales this year. While there is plenty of blame for this, NAR’s Larry Yun, rather ominously warns, “signs of a slowing U.S. economy may be causing some prospective buyers to take a wait–and–see approach.”
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