Pending home sales rose 0.4% MoM in Mar’18 missing expectations

Pending Home Sales missed expectations of 0.7% increase month over month and rose only 0.4% in March 2018. February 2018 was also revised lower from 3.1% to 2.8% increase month over month. Our home region the West fell 1.1% in March month over month and 0.7% in February month over month. Our friend, Larry Yun, NAR’s chief economist, said in a statement, “Healthy economic conditions are creating considerable demand for purchasing a home, but not all buyers are able to sign contracts because of the lack of choices in inventory. It is an absolute necessity for there to be a… Read morePending home sales rose 0.4% MoM in Mar’18 missing expectations