Pending Home Sales fell 2.7% year-over-year making this the 10th month of falling YoY sales. This print beat expectations of a 3.5% decline but last month's data was revised lower to a 4.7% decline. MoM sales jumped 3.3% but the series has been extremely noisy in the last 6 months as the Northeast saw a seasonally-adjusted gain of 6.2% MoM (and Midwest fell 0.4%).
Pending Home Sales down YoY 10th Month in a row...
[4]
Midwest fell as Northeast surged...
Regional Pending Home Sales vs. Existing Home Sales: {ECWB P 53FF369C01F00019<Go>} pic.twitter.com/z5KxQF8ciY [5]
— Michael McDonough (@M_McDonough) August 28, 2014 [6]
Chart: Bloomberg
