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21.01.26 - 16:15
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US Pending Home Sales Crash Most Since COVID, Back Near Record Lows (ZeroHedge)
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US Pending Home Sales Crash Most Since COVID, Back Near Record Lows
After four straight months of increases, US pending home sales crashed in December (-9.3% MoM vs -0.3% MoM exp), dragging sales down 1.27% YoY in 2025...
Source: Bloomberg
This is the biggest monthly decline since COVID.
“The housing sector is not out of the woods yet,” NAR Chief Economist Lawrence Yun said in a statement.
“After several months of encouraging signs in pending contracts and closed sales, the December new contract figures have dampened the short-term outlook.”
December's collapse crashed the US Pending Home Sales Index back near record lows (from 33 month highs)...
Source: Bloomberg
Housing activity typically slows in winter months and picks up more in the spring selling season. While NAR adjusts the data for these patterns, the drop was still the largest for any December in data back to 2001.
Yun said it's unclear whether the figure was a one-off or the start of a worsening trend.
Activity may pick...
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