Pending home sales fell by more than expected in February

Contract signings to purchase previously owned homes fell more than estimated in February, suggesting that the prior month’s surge resulted from pent-up demand and that a sustainable recovery may take more time. The index of pending home sales fell 1% from the prior month, after a downwardly revised 4.3% increase in January, according to data released Thursday from the National Association of Realtors in Washington. The gauge fell 5% from a year earlier following a 3.3% annual decline.

Ocwen’s 1Q loss due to lower interest rates affecting its MSRs Mortgage servicing rights and interest rates mortgage servicing rights (MSRs) trade similarly to interest-only (IO) strips.. and it closed at $55.25-just a shade lower than its 52-week high.

The pending home sales index in the Northeast fell 0.8% to 92.1 in February, while the index for the Midwest was down 7.2% to 93.2. For the South, the index ticked up 1.7% to 121.8 last month, while the gauge for the West rose 0.5% to 87.5.

The numbers: Pending-home sales rose 3.1% to 107.5 in February, It fell to a more-than three year low in January, and that reading was revised even lower.. The group expects the national median existing-home price to.

The supply of homes for sale has been rising steadily, up over 3 percent. The layoffs are expected to hit Huawei's U.S. development. Pending contracts were 4.9 percent lower than a year earlier.. Job creation in the West is solid, but there is still a desperate need for more home construction,” he added.

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A forward looking gauge of the US housing market fell less than expected last month as a tight supply of homes continued to weigh on activity. The pending home sales index fell 0.8 per cent in.

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Existing Home Sales data are provided by NAR solely for use as a reference. No part of this data may be reproduced, stored in a retrieval system, transmitted or.

On a month-over-month basis, sales surged 1.1 percent in May, more than an expected 1.0 percent advance and following a 1.5 percent drop in April. Pending .

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 · New home sales fell more sharply than expected in February — and along with them, the price of a new house — in the latest signs of a slowdown in what had been a white-hot housing market.

 · April pending home sales index will be released on Thursday, May 30 at 10:00 AM EDT. The index is expected to improve only slightly in April by 0.3%, after jumping 3.8% in March. April international trade in goods will be released on Thursday, May 30 at 8:30 AM EDT.

May had 375 fewer pending deals than last year. It could just be that deals are closing faster than they used to – and we have some data that indicates that this is true. The percentage of home sales.