US Pending Home Sales Rise 1.8% MoM In February, But The South Saw 2.7% MoM Increase (What I Like About The South)

What I like about the South.

US pending home sales bounced modestly in February (up 1.8% MoM vs -0.6% MoM exp and -10.% MoM prior).

Year-over-year home sales continue to decline (down 0.6% YoY).

Source: Bloomberg

Pending home sales in the South, the biggest home-selling region in the country, increased 2.7%.

They rose 4.6% in the Midwest and edged up in the West.