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Pending Home Sales plunged 0.9% MoM (against expectations of a 0.7% MoM rise)

By: capt_nemo in POPE IV | Recommend this post (1)
Wed, 30 Dec 15 8:59 PM | 71 view(s)
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Msg. 01780 of 47202
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Pending Home Sales Plunge In November, Realtors Warn Fed Over Higher Rates
Submitted by Tyler Durden on 12/30/2015 - 10:10

Having seen New Home Sales disappoint and Existing Home Sales crash in November, Pending Home Sales plunged 0.9% MoM (against expectations of a 0.7% MoM rise). Having plateaued in October near 8-month lows, today's huge miss was driven by a plunge in sales in The West (-5.5%) and NorthEast (-3.0%). Home sales rose just 2.6% YoY - the weakest since October 2014. The excuse factory was busy with weather, home prices, and inventory trotted out but, perhaps most notably, Realtors warned that higher mortgage rates will temper sales growth in an explicit threat to Janet to "hold."

http://www.zerohedge.com/news/2015-12-30/pending-home-sales-plunge-november-realtors-warn-fed-over-higher-rates

Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.

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