US pending home sales increase 4.6% in January
Add BT as a preferred source
[WASHINGTON] Contracts to buy previously owned homes rose in January, the National Association of Realtors said on Wednesday.
The NAR's pending home sales index increased to a reading of 103.2, up 4.6 per cent from the prior month. December's index was revised to 98.7 from 99.0.
Economists polled by Reuters had forecast pending home sales rising 0.4 per cent last month.
Pending home contracts are seen as a forward-looking indicator of the health of the housing market because they become sales one to two months later.
US existing home sales fell in January to their lowest level in more than three years and house prices rose only modestly, suggesting a further loss of momentum in the housing market. Compared to one year ago, pending sales were down 2.3 per cent.
REUTERS
Share with us your feedback on BT's products and services
TRENDING NOW
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
Not retirement, but a rewiring and fresh perspectives post-DBS, says Piyush Gupta
Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why
Power of payouts: A big chunk of the STI has just gone ex-dividend. What’s next?
