Pending Home Sales Down; Severe Weather Impacting Market

Pending Home Sales Down; Severe Weather Impacting Market – The Pending Home Sales Index, a forward-looking indicator based on contracts signed in January, fell 7.6 percent to 90.4 from an upwardly revised 97.8 in December.

“We will see weak near-term sales followed by a likely surge of existing-home sales in April, May and June,” [Lawrence Yun, NAR chief economist] said. “The real question is what happens in the second half of the year” – NAR

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