U.S. pending home sales increase moderately, NAR says
Pending home sales in the U.S. rose 1.6% in February, spurred by modest inventory increases and job gains, a report on Thursday said. The National Association of Realtors (NAR) Pending Home Sales index rose 1.6% to 75.6 from a revised 74.4 the month prior. Economists expected a 1.5% increase, a Reuters poll showed. On a yearly basis, pending home sales fell 7% in February. “The high-cost regions in the Northeast and West experienced pullbacks due to affordability challenges,” said Lawrence Yun, the NAR’s chief economist. “Home prices rising faster than ...
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