Pending home sales dip 1% in Feb. after Jan.’s 5% surge

WASHINGTON – March 28, 2019 – Pending home sales endured a minor drop in February, according to the National Association of Realtors® (NAR). The four major regions were split last month, as the South and West saw a bump in contract activity and the Northeast and Midwest reported slight declines.

The Pending Home Sales Index – a forward-looking indicator based on contract signings – decreased 1.0 percent to 101.9 in February, down from 102.9 in January. Year-over-year contract signings declined 4.9 percent, making this the fourteenth straight month of annual decreases.

Lawrence Yun, NAR chief economist, said February’s pending home sales decline is coming off a solid gain in the prior month.

Source:  Florida Realtors

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