Pending Home Sales Plunge Most Since 2013, Holdout Buyers Blamed

by Tyler Durden
ZeroHedge.com
07/29/2015

Following new home sales disappointment, pending home sales dropped 1.8% in June (missing expectations of a 0.9% rise) for the biggest drop sicne Dec 2013. After 5 months of gains, and with median prices at record highs, it appears affordability is crushing hopes of any sustained ‘recovery’ once again. Modest gains in the Northeast and West were offset by larger declines in the Midwest and South, but Larry Yun has an explanation, hold-out buyers are waiting for a better entry point (in other words – pent up demand is there). Did Chinese buyers just evaporate?

The Rest…HERE

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