US Pending Home Sales Plunge On Lack Of Available Houses

Existing US home sales may be set to fall during the spring buying season. Or at least if you believe pending home sales are a lead indicator (they are). Contract signings plunged 5.2% in March, according to data released by the NAR on Thursday. That was a very notable surprise versus consensus, which expected a small increase. The range of estimates, from two-dozen surveyed economists, was -5% to 2%. It was the largest decline since September, when the Fed was in full-hawk mode following J