Pending home sales disappoint

The Spring housing bounce hasn't quite arrived as Pending Home Sales only edged higher in April, the 0.4% gain falling short of estimates of 1%. On a Y/Y basis, the Pending Home Sales Index of 97.8 is lower by 9.2%.

Up nicely in opening action, the ITB gives back some of those gains, now ahead by 0.3%.

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Other ETFs: XHB, PKB

Previously: Pending Home Sales rises 0.4%

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Comments (6)
  • permanent
    , contributor
    Comments (493) | Send Message


    In this economy you can´t expect much. Homes are not affordable and personal incomes in real terms are falling.
    29 May 2014, 10:13 AM Reply Like
  • jpbald
    , contributor
    Comments (37) | Send Message
    No,with prices of everyday need items rising in general & wage increases almost flat.Have to agree with permanent,you can´t expect much.
    29 May 2014, 11:07 AM Reply Like
  • june1234
    , contributor
    Comments (4473) | Send Message
    Same picture with the purchase mtg app index which dropped, yr over yr 15% last week, 12% the week before, 16 and 21% weeks before that, all yr over yr.
    29 May 2014, 10:26 AM Reply Like
  • pollyserial
    , contributor
    Comments (1113) | Send Message
    And they wonder why GDP isn't improving.
    29 May 2014, 01:18 PM Reply Like
  • David at Imperial Beach
    , contributor
    Comments (4381) | Send Message
    Don't worry... Ms. Yellen has everything in hand. Just tweak their bond buying down by another $10B while manipulating long term rates even lower and watch the trickle down take effect... Nothing wrong with the economy that a little sunny weather can't fix.
    29 May 2014, 01:30 PM Reply Like
  • djrryan
    , contributor
    Comments (311) | Send Message
    The fast money crowd helped Phoenix come out of the downturn by buying foreclosed properties cheap and holding and reselling as the local economy recovered. Now that home prices have recovered we have too many speculators and house flippers still here in the Phoenix market. It appears many did not get the message they missed their opportunity. Unfortunately, even now there are still people flocking to Phoenix "get rich by flipping houses" seminars ... these late to the game folks are getting burned and they will all eventually move on hopefully leaving us with a more sustainable housing market.
    29 May 2014, 08:57 PM Reply Like
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