Pending Home Sales in April fell 5.5%, well below expectations of flat m/o/m and comes after a cumulative gain of 16.3% in the warm fall/winter months of Oct thru Mar. Contract signings fell the sharpest in the still over inventoried areas of the South and West. Sales rose slightly in the Northeast and fell a touch in the Midwest. Bottom line, April contract signings likely reflected give back from an unusual winter and the 5.5% drop m/o/m is close to matching the fall in purchase applications within the weekly MBA data of 6.7% in April from March.
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.