Details of the latest US pending home sales data report for September 2015
- Prior -1.4%
- 2.5% vs 7.3% exp y/y. Prior 6.7%. Revised to 6.6%
Although not usually market moving, the data does show important sentiment in housing. The NRA report that a lack of selection and stricter lending may be dissuading some people from trading up homes. That's also something that may be affecting first time buyers too. They note "there's a dearth of available listings at the lower end of the market for first time buyers"
Of course there could be the reason that buyers are not as confident in the economy or their finances/jobs which is making them stay put
Once again the biggest move was in the Northeast (-4.0%) and we've seen big variations in all the housing data for that region over the last 2 months
US pending home sales y/y
