Pending home sales much lower than expected

Pending-Sale-wpckiBy Jann Swanson | Mortgage News Daily

And we have a trifecta! All three of the home sales indicators for December have now come in positive, although the latest, pending sales, did so leaving claw marks on the scales. The National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI) eked out a 0.1 percent advance over November. The median forecast called for a 0.8 percent increase. Existing home sales and new home sales, both reported within the last week, had month-over-month increases in the double digits.

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