By Steven Russolillo | The Wall Street Journal
The U.S. Federal Reserve isn’t exactly poised to crash the house party.
Low interest rates, steady job gains and improving household finances have helped bolster the housing recovery. And even as 2015’s strong first half has given way to some wobbly months of late, housing fundamentals appear primed to withstand a looming U.S. rate increase.
Monday’s report on pending home sales, a key tool in measuring buying momentum, should confirm that trend. Tracked by the National Association of Realtors, it measures purchases of previously owned homes and is based on signed contracts, making it a leading indicator of sorts for the broader housing market. Home sales typically close within a couple months after signing.
