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IPFS News Link • Housing

Pending Home Sales Drop For 4th Straight Month In December, Led By MidWest

• Zero Hedge - Tyler Durden

After a modest, but disappointing, uptick in new home sales and existing home sales, analysts expected a drop in pending home sales in December and it did, dropping 0.3% MoM (slightly better than the 0.5% decline expeccted)

Source: Bloomberg

This is the 4th straight monthly decline, underscoring the difficulties of further upward momentum in the housing market as the lack of available properties drives up asking prices and restrains demand.

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