US pending home sales declined -2.3% MoM and -7.19% YoY as US GDP sinks like a paralyzed falcon,
(Bloomberg) — The National Association of Realtors’ index of pending home sales decreased 2.3% in September from a month earlier to 116.7, largest drop since April, according to data released Thursday.
The median estimate in a Bloomberg survey of economists called for a 0.5% advance.
Compared with a year earlier, contract signings were down 7.2% on an unadjusted basis”
Forecast range from -4.6% to 4.5% from 30 economists surveyed
Signings declined in all four U.S. regions from the prior month, led by a 3.5% drop in the Midwest
Unlike existing-home sales, which are calculated when a contract closes, the index of pending home sales is based on contract signings
Treasury Secretary Janet Yellen: “What, me worry?”