Pending home sales fall, marking the 16th-straight month of annual declines

Pending home sales declined by 1.5% in April from March while also seeing a drop year-over-year, marking the 16th straight month of annual declines. Pending home sales occur when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

April marked the 16th-straight month of annual declines. Contract signings precede closings by about 45-60 days, so the pending home-sales index is a leading indicator for upcoming existing-home.

Pending home sales fall, Marking the 16th Straight Month of Annual Declines The numbers: Pending home sales fell a seasonally adjusted 1.5% in April and were 2% lower than a year ago, the National Association of Realtors said Thursday. April marked the 16th-straight month of annual declines.

The NAR’s pending home sales index dropped to a reading of 104.3, down 1.5% from the prior month. Economists polled by Reuters had forecast pending home sales would rise 0.9% last month.

What happened: NAR’s index, which tracks home-contract signings, has been volatile, but the trend is solidly downward. April marked the 16th-straight month of annual declines. Contract signings precede closings by about 45-60 days, so the pending home-sales index is a leading indicator for upcoming existing-home sales reports.

Pending home sales have now fallen on an annual basis for seven consecutive months in July, according to the latest report from the National Association of Realtors. The Pending Home Sales Index.

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April marked the 16th-straight month of annual declines. Contract signings precede closings by about 45-60 days, so the pending home-sales index is a leading indicator for upcoming existing-home sales reports. Only the Midwest saw an increase in April, with a 1.3% uptick.

Pending-home sales slid 2.2% in December to a reading of 99, and were 9.8% lower compared to a year ago, marking the 12th straight month of annual declines. January 30, 2019 MarketWatch

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Pending home sales jumped 1.1% to 105.4 in May after. If -2.6% is the actual decline for the quarter, it will mark the first time the index has reported two straight quarters of year-over-year.

Ford said it will have costs of $600 million this year related mainly to the deal’s ratification bonuses, in line with its annual forecast. its seasonally adjusted pending home sales index rose 0.2.

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