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Pending Home Sales decreased 1.4%

Monday, Sep 28 2015
The Pending Home Sales Index, decreased 1.4% to 109.4 in August from 110.9 in July but is still 6.1% above August 2014 (103.1). Analysts were anticipating 0.4% increase. Lawrence Yun, NAR chief economist, says even with the modest decline in contract signings, demand continues to outpace housing supply and elevate price growth in numerous markets. 
 
"Pending sales have leveled off since mid–summer, with buyers being bounded by rising prices and few available and affordable properties within their budget," he said. "Even with existing–housing supply barely budging all summer and no relief coming from new construction, contract activity is still higher than earlier this year and a year ago."
 
Data did not have any major impact on the markets. Euro is currently being traded slightly below 1.12 handle, Sterling is around 1.5190 level, while Aussie is few points above 0.70 area.
More in this category: « Euro struggling with 1.12 handle Aussie lower in a quiet Asian trade »

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