US February pending home sales -10.6% vs -3.0% m/m expected
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US February pending home sales data from the National Association of Realtors
- Prior was -2.8%
- Pending home sales index 110.3 vs 122.8 prior
- Sales y/y -2.7% vs +6.5% expected (prior +8.8%)
Tight inventories and cold February weather put a major damper on home sales in February. Each of the four regions experienced a decline.