US pending home sales for March 2020
- Pending home sales -20.8% versus -13.6% estimate
- prior month was revised to 2.3% from 2.4%
- not seasonally adjusted fell by -14.5% versus -7.6% estimate
- prior month for not seasonally adjusted was revised to 11.4% from 11.5% previously reported
- year on year -16.3% versus +9.3% last month
- Northeast -14.5%
- Midwest -22%
- south -19.5%
- West -26.8%
The decline was the sharpest since a 30.35% decline in May 2010. Measures to shut down US economy have of course curtailed real estate showings and sales.
Realtors say that a later bounce won't make up for the spring decline
Home prices are holding up well as lower mortgage rates helped to ease some of the declines.
