Pending Home Sales

Newsfeed: US Pending Home Sales Are Down Most Since 2011 YoY (Ex-COVID)

Newsfeed: US Pending Home Sales Are Down Most Since 2011 YoY (Ex-COVID)

After yesterday’s dreadful collapse in new home sales (and Toll Brothers’ less than rosy picture overnight), analysts expected another monthly decline in pending home sales in July (though not as violent as the June plunge). They were right as pending home sales dropped 1.0% MoM (beating expectations of a 2.6% drop but that was largely driven by a downward revision for June data)…