Pending Home Sales Tumble In December

Pending home sales tumbled 3.7% in December, widely missing expectations.

Over the prior year, pending home sales rose 8.5% in December, but far less than what economists had been expecting.

Expectations were for the report to show pending home sales rose 0.5% in December compared to the prior month and 10.5% over last year.

In November, pending home sales rose 0.8% against the prior month and 1.7% over last year.

More to come …

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