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Economists had mixed reactions about the housing market following the release of some October data showing that while fewer people planned to purchase an existing home compared to the previous month, the decline was not as great as expected my markets. Ian Shepherdson, chief U.S. economist at High Frequency...
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Pending home sales rebounded by 5.3% in June, according to the National Association of Realtors (NAR), against expectations that the index would fall by 1.0%. The bounce is better than the most optimistic forecasts and follows a downwardly revised 4.9% drop in the prior month. This is the second unexpected...
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The consensus forecast is expecting Thursday's pending home sales index (PHSI) from the National Association of Realtors to fall by 1.0% in June, following a 4.7% decline in the May survey and an unexpected 7.1% rebound in April. Prior to the advance in April - which economists say was likely related...
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The 4.7% decline in U.S. pending home sales in May shows that the previous month's gain was not a true sign of stabilization , economists said after a release the National Association of Realtors on Tuesday. Patrick Newport, U.S. economist at Global Insight, called the report "disappointing," noting...
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Both the Canadian and U.S. housing sectors will kick off the week, with Canadian markets receiving May housing starts, with the U.S. expecting data on pending home sales for April. At 8:15 a.m. EDT, the Canadian Mortgage and Housing Corporation will release May housing starts, which economists expect...
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Economists say the March report for pending home sales confirms what has been known for many months now: the U.S. housing market is still several months away from stabilizing. U.S. pending home sales fell in line with expectations on Wednesday morning, declining 1.0% month-over-month to confirm the consensus...
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U.S. pending home sales surprised to the downside on Tuesday morning, declining 1.9% month-over-month despite calls for a 1.0% pullback in February, and failing to give any indications of a timeframe for a bottoming out in the housing market. "The idea that U.S. home sales are in the process of stabilizing...
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Despite an unchanged reading in U.S. pending home sales in January, the consensus forecast is looking for a 1.0% month-over-month decline in the National Association of Realtors' February release on Tuesday. However, economists are far from unanimous in their calls. "Several forces appear to be moving...