Headline: Up 5.1%, month-over-monthExpectations: 1.6% growth, month-over-month
Analysis: Last month, the pending home sales index was up 2.1%, month-over-month. But that’s been revised down, so this month’s gains look a little stronger than they actually are.
We’re still down 11.4% year-over-year, March of last year being inflated by the tax credit, according to the National Association of Realtors.
The Northeast was a notable area of weakness in this report, while in the South the index jumped.