US DATA REACT: BMO says falling pending home sales “is more than a
little foreboding for upcoming February (and perhaps even March)
existing home sales, which will be released March 23. So brace for
another weak report on that date. The NAR also warned ‘additional
declines are expected from abnormal weather conditions’.” HFE says
“February (hsg) numbers will surely be hit by the weather, so it will
likely be two months before we next see an improvement in pending home
sales. In the meantime, this report suggests existing home sales dipped
again in February.”
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