FOREX TradingCharts.com

Financial News: U.S. Pending Home Sales Nosedive More Than Expected

U.S. Pending Home Sales Nosedive More Than Expected In March

04/29/2020 - 10:31:00 (RTTNews)

(RTTNews) - A report released by National Association of Realtors on Wednesday showed a bigger than expected nosedive in U.S. pending home sales in the month of March.

NAR said its pending home sales index plunged by 20.8 percent to 88.2 in March after jumping by 2.3 percent to 111.4 in February. Economists had expected the index to tumbled by 10.0.

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.

"The housing market is temporarily grappling with the coronavirus-induced shutdown, which pulled down new listings and new contracts," said Lawrence Yun, NAR's chief economist.

He added, "As consumers become more accustomed to social distancing protocols, and with the economy slowly and safely reopening, listings and buying activity will resume, especially given the record low mortgage rates."

The bigger than expected slump in pending home sales came as each of the four major regions saw drops in month-over-month contract activity and year-over-year pending home sales transactions.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


U.S. Private Sector Employment Slumps Much Less Than Expected In May (16 min(s), 57 sec(s) ago)
(RTTNews) - After reporting a record drop in private sector employment in the previous month, payr ...Full Story»

Latvia Industrial Production Falls For Second Month (51 min(s), 57 sec(s) ago)
(RTTNews) - Latvia's industrial production declined for the second straight month in April, da ...Full Story»

South Africa Private Sector Contracts At Record Pace (52 min(s), 57 sec(s) ago)
(RTTNews) - South Africa's private sector contracted the most on record in May as lockdown mea ...Full Story»

Turkey Consumer Price Inflation Rises; Producer Price Inflation Slows (53 min(s), 57 sec(s) ago)
(RTTNews) - Turkey's consumer price inflation increased in May, while producer price inflation ...Full Story»

Eurozone Producer Prices Continue To Fall (01 hr(s), 08 min(s), 57 sec(s) ago)
(RTTNews) - Eurozone producer prices continued to fall in April due to weak energy prices, data fr ...Full Story»

Eurozone PMI Signals Severe Contraction (01 hr(s), 37 min(s), 57 sec(s) ago)
(RTTNews) - The euro area private sector contracted sharply in May, but improved from April as loc ...Full Story»

Italy Jobless Rate Lowest Since 2007 (02 hr(s), 11 min(s), 57 sec(s) ago)
(RTTNews) - Italy's jobless rate decreased to the lowest level in more than twelve years in Ap ...Full Story»

Sweden Service Sector Shrinks At Slower Pace In May (02 hr(s), 24 min(s), 57 sec(s) ago)
(RTTNews) - Sweden's services sector contracted at a slower pace in May, survey data from Swed ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

U.S. Private Sector Employment Slumps Much Less Than Expected In May

06/03/2020 - 08:24 AM (RTTNews)
(RTTNews) - After reporting a record drop in private sector employment in the previous month, payr ...Full Story>>

Latvia Industrial Production Falls For Second Month

06/03/2020 - 07:49 AM (RTTNews)
(RTTNews) - Latvia's industrial production declined for the second straight month in April, da ...Full Story>>

South Africa Private Sector Contracts At Record Pace

06/03/2020 - 07:48 AM (RTTNews)
(RTTNews) - South Africa's private sector contracted the most on record in May as lockdown mea ...Full Story>>

Turkey Consumer Price Inflation Rises; Producer Price Inflation Slows

06/03/2020 - 07:47 AM (RTTNews)
(RTTNews) - Turkey's consumer price inflation increased in May, while producer price inflation ...Full Story>>

Eurozone Producer Prices Continue To Fall

06/03/2020 - 07:32 AM (RTTNews)
(RTTNews) - Eurozone producer prices continued to fall in April due to weak energy prices, data fr ...Full Story>>
Copyright © 2020. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.