However, they were notably wrong as pending home sales fell 2.2% MoM in November (vs +0.8% exp and +7.5% prior). This is the 6th month of flip-flopping home sales...

Interestingly that miss still left pending home sales up year-over-year (albeit just +0.21%).

The pending home sales index fell back from near last year's highs (and in line with the peak of 2005), even as new-and and existing-home sales rose...

With the market pricing in a first rate-hike by May next year, we wonder how much longer this buying-panic can continue, especially with homebuyer confidence so decoupled...

Get back to work Mr.Powell.