Pending Home Sales Plunge Most In 2 Years; Soaring Prices Blamed

by Tyler Durden
ZeroHedge.com
02/29/2016

Following strength in existing home sales and weakness in new home sales, pending home sales greatly disappointed. Against expectations of a 0.5% jump, pending home sales tumbled 2.5% in January – the biggest drop since Dec 2013. This is the 9th monthly miss in a row. While the weather was blamed a little, NAR’s Larry Yun pins the absence of first-time buyers on high prices driven b y “cash buyers and investors.”

The Rest…HERE

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