US pending home sales for August 2020
- Prior report was up 5.9%
- Pending home sales rose 8.8% vs. estimates of 3.1%
- record high change for the index
- unadjusted home sales up 20.5% year on year vs. 15.4% YoY in July. That is the highest level since April 2010
- West rose 13.1% and led the way
- The South and Midwest both rose by 8.6%
- The Northeast rose by 4.3%
- the forecasted range was 4-1.8% to +6.0%
Housing remains a huge bright spot in the US economy, as pandemic led moves out of urban areas to suburbs spurs on activity despite very low supplies.
