US Housing Demand Surprises Pessimistic Economists

US Housing Demand Surprises Pessimistic Economists

FLASH: More on The Trump Policies ‘working’; Contracts to buy previously owned homes rose to 8-month highs in March, the National Association of Realtors said Tuesday.

The NAR’s pending home sales index increased to a reading of 105.8, +3.8% from the previous month and the highest since July. February’s index was unrevised at 101.9.

Economists polled by Reuters had forecast pending home sales rising 1.1% last month.

Pending home contracts are seen as a forward-looking indicator of the health of the housing market because they become sales 1 to 2 months later.

Compared to 1 year ago, pending existing home sales were down 1.2%, marking the 15th month running of annual decreases.

The Trump Policies have turned this leading indicator around, it is on the rise.

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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