U.S. Pending Home Sales Unexpectedly Tumble 1.9% In June

Pending home sales in the U.S. unexpectedly showed a notable decrease in the month of June, according to a report released by the National Association of Realtors on Thursday. NAR said its pending home sales index tumbled by 1.9 percent to 112.8 in June after soaring by 8.3 percent to a revised 115.0 in May. The pullback surprised economists, who had expected pending home sales to edge up by 0.3 percent compared to the 8.0 percent spike originally reported for the previous month. A pending home sale is one in which a contract was signed but not yet closed. Normally, it takes four to six weeks to close a contracted sale. “Pending sales have seesawed since January, indicating a turning point for the market,” said NAR’s chief economist Lawrence Yun. “Buyers are still interested and want to own a home, but record-high home prices are causing some to retreat.” “The moderate slowdown in sales is largely due to the huge spike in home prices,” he continued. “The Midwest region offers the most affordable costs for a home and hence that region has seen better sales activity compared to other areas in recent months.” The unexpected drop in pending home sales reflected weakness in the South and West, where pending sales slumped by 3.0 percent and 3.8 percent, respectively. On the other hand, the report showed pending home sales in the Northeast and Midwest rose by 0.5 percent and 0.6 percent, respectively. The Commerce Department released a separate report on Monday unexpectedly showing another steep drop in U.S. new home sales in the month of June. The report said new home sales tumbled by 6.6 percent to an annual rate of 676,000 in June after plunging by 7.8 percent to a revised rate of 724,000 in May. The continued nosedive surprised economists, who had expected new home sales to jump by 4.0 percent to an annual rate of 800,000 from the 769,000 originally reported for the previous month. .

start forex commodities bitcoin trading with 1 free no deposit bonus

Step 1. Open a free account


Step 2. Verify your account


Step 3. Receive your bonus

Start Forex Trading With As Little As $1

Because you can have a Live and a Demo trading desks within one AGEA account:
  1. You can start trading on demo account which already has $10,000 virtual funds.
  2. You can claim your $5.00 Welcome Bonus and start live forex trading without extra deposit.
  3. You can deposit and add more funds to your trading account.


Register a Free Account

How to Get the $5 Bonus?

To receive your $5.00 welcome bonus, you need to verify your account:
  • a) Picture Identification: (i.e. passport, driving license or government-issued ID). This document must include picture, full name, date of birth and expiration date.
  • b) Address Confirmation: Acceptable forms of proof of residence include, but are not limited to, a utility bill (water, gas, electricity or similar), telephone bill, bank statement, credit card statement, mortgage statement, tax correspondence, official government-issued identity card (this must not be the same document as provided for the proof of identity). This document must contain full name, complete residential address and be dated within the last six months.


Verify Your Account

Trading Platforms

forex trading platform streamster
Streamster


Streamster for Desktop


Streamster for iPhone


Streamster for Android

forex trading platform streamster web

WebTrader


Trade in Browser


Trade in Browser

forex trading platform streamster mt4

MetaTrader 4


MT4 for iPhone


MT4 for Android


MT4 for Desktop

By admin