Article Image
News Link • Housing

Pending Home Sales Miss Fourth Month In A Row, As Northeast Weighs On Index

•, by Tyler Durden

While the rest of the US economy was slowly but surely reentering a recession, with the only two pieces of silver lining being the relatively strong, if unbelievable, jobs data (driven by low-wage paying jobs) and the US housing market, moments ago we just got the latest confirmation that one of these two final anchors is slowly falling apart when the perpetually optimistic housing industry organization, NAR, reported that August pending home sales dropped -1.4%, on expectations of a 0.4% increase, and down from a 0.5% jump the month before. Confirming that the Chinese "hot money parking" bid is finally ending, this was the fourth consecutive miss in a row.

Join us on our Social Networks:


Share this page with your friends on your favorite social network: