Pending home sales fell by more than expected in February

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LIVE - Floor of the NYSE! Feb. 2, 2018 Financial News - Business News - Stock News - Market News A separate report this week showed new-home groundbreakings fell in February by the most in eight months, while other data indicate existing home sales rebounded last month to the best pace in almost a year.

WASHINGTON (Reuters) – U.S. home sales fell more than expected in March, pointing to continued weakness. to a seasonally adjusted annual rate of 5.21 million units last month. February’s sales pace.

50 means more builders rate current conditions as good than rate them as poor. While a reading of. Pending home sales tumbled 2.6% in October, with sales down 8.9% in the. West. Resales of existing homes are expected to rise less than 1%.. home inventory is the highest since February 2011.

Pending home sales fell 1.6% on the month in August, falling for the fourth straight month. missing expectations for a 1 percent fall. They were also up a more modest 2.9% year-over-year, compared.

Normally, it takes four to six weeks to close a contracted sale. Despite the bigger than expected monthly increase, NAR said pending home sales in February were still down by 4.1 percent compared.

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