FOREX TradingCharts.com

Financial News: U.S. Pending Home Sales Unexpectedly Drop 0.5% In

U.S. Pending Home Sales Unexpectedly Drop 0.5% In May

06/27/2018 - 10:27:00 (RTTNews)

(RTTNews) - Reflecting a large decline in contract activity in the South, the National Association of Realtors released a report on Wednesday showing an unexpected decrease in pending home sales in the U.S. in the month of May.

NAR said its pending home sales index fell by 0.5 percent to 105.9 in May after slumping by 1.3 percent to 106.4 in April. Economists had expected pending home sales to climb by 0.5 percent.

With the unexpected decline, pending home sales in May were down by 2.2 percent compared to the same month a year ago, reflecting the fifth straight month pending sales decreased year-over-year.

A pending home sale is one in which a contract was signed but not yet closed. Normally, it takes four to six weeks to close a contracted sale.

"Pending home sales underperformed once again in May, declining for the second straight month and coming in at the second lowest level over the past year," said NAR chief economist Lawrence Yun.

He added, "Realtors in most of the country continue to describe their markets as highly competitive and fast moving, but without enough new and existing inventory for sale, activity has essentially stalled."

The unexpected drop in pending home sales was due to a notable decrease in the South, where pending home sales slumped by 3.5 percent.

On the other hand, pending home sales in the West rose by 0.6 percent, and pending home sales in the Northeast and Midwest jumped by 2.0 percent and 2.9 percent, respectively.

Yun now forecasts for existing home sales to dip by 0.4 percent to 5.49 million in 2018 from 5.51 million in 2017.

The national median existing home price is expected to increase around 5.0 percent. In 2017, existing sales increased 1.1 percent and prices rose 5.7 percent.

On Monday, the Commerce Department released a separate report showing a bigger than expected rebound in new home sales in May.

The Commerce Department said new home sales spiked by 6.7 percent to an annual rate of 689,000 in May after plunging by 3.7 percent to a revised rate of 646,000 in April. Economists had expected new home sales to climb by 1.5 percent.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2018 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


BRAZIL: DI Rates Trade Lower Amid Signs Of Centrist Support To Alckmin (11 hr(s), 47 min(s), 58 sec(s) ago)
(RTTNews) - The one-day interbank deposit futures rates (DI rates) in Brazil traded lower Friday a ...Full Story»

BRAZIL: Government Cuts 2018 GDP Growth Projection To 1.6%, From 2.5% (11 hr(s), 46 min(s), 58 sec(s) ago)
(RTTNews) - The Brazilian government revised the expectation of growth of the Gross Domestic Produ ...Full Story»

BRAZIL: 661 Jobs Were Closed In June (11 hr(s), 45 min(s), 58 sec(s) ago)
(RTTNews) - Brazil recorded a net loss of 661 jobs in June, resulting in 1,167,531 admissions and ...Full Story»

TIM BRAZIL: Net Profit Rises 53% In The 2Q18, To R$ 335 Million (11 hr(s), 54 min(s), 58 sec(s) ago)
(RTTNews) - TIM Brazil's net profit grew 53% in the second quarter from a year before, to R$ 3 ...Full Story»

BRAZIL: IPCA-15 Rises 4.53% In 12 Months To July (estimates +4.61%) (12 hr(s), 01 min(s), 58 sec(s) ago)
(RTTNews) - The preliminary official consumer price inflation index in Brazil (IPCA-15) lost stren ...Full Story»

EMBRAER: Company Delivers 48 Aircraft In 2Q18, 11 Less Than In 2Q17 (12 hr(s), 04 min(s), 58 sec(s) ago)
(RTTNews) - Brazil's Embraer delivered 48 aircraft in the second quarter of 2017 (28 commercia ...Full Story»

A (12 hr(s), 06 min(s), 58 sec(s) ago)
(RTTNews) - a For comments and feedback: contact editorial@rttnews. ...Full Story»

TIM: Net Income Grows 53% In 2Q18, To R$ 335 Million (12 hr(s), 11 min(s), 58 sec(s) ago)
(RTTNews) - Brazil's TIM Participalles' net income increased 53.2% in the second quarter c ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

BRAZIL: 661 Jobs Were Closed In June

07/21/2018 - 09:00 AM (RTTNews)
(RTTNews) - Brazil recorded a net loss of 661 jobs in June, resulting in 1,167,531 admissions and ...Full Story>>

BRAZIL: Government Cuts 2018 GDP Growth Projection To 1.6%, From 2.5%

07/21/2018 - 08:59 AM (RTTNews)
(RTTNews) - The Brazilian government revised the expectation of growth of the Gross Domestic Produ ...Full Story>>

BRAZIL: DI Rates Trade Lower Amid Signs Of Centrist Support To Alckmin

07/21/2018 - 08:58 AM (RTTNews)
(RTTNews) - The one-day interbank deposit futures rates (DI rates) in Brazil traded lower Friday a ...Full Story>>

TIM BRAZIL: Net Profit Rises 53% In The 2Q18, To R$ 335 Million

07/21/2018 - 08:51 AM (RTTNews)
(RTTNews) - TIM Brazil's net profit grew 53% in the second quarter from a year before, to R$ 3 ...Full Story>>

BRAZIL: IPCA-15 Rises 4.53% In 12 Months To July (estimates +4.61%)

07/21/2018 - 08:44 AM (RTTNews)
(RTTNews) - The preliminary official consumer price inflation index in Brazil (IPCA-15) lost stren ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.