Free Trial

Pending Home Sales Suggest Further Housing Pain Ahead

US DATA
  • Much weaker than expected pending home sales in Sept (-10% M/M vs cons -4.0%), suggesting the slide in existing home sales isn't done yet having previously looked to be levelling off.
  • The northeast led the decline at -16.6% M/M but contract signings pulled back in all four major US regions, with the smallest hit -8.1% M/M in the south, rather than the decline being down to one particular outlier.
  • Pending sales are just 10% off the Apr'20 and prior to that were last seen in May'10.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.