U.S. February Pending Home Sales Drop for Second Month

Pending home sales in the United States declined in February for the second consecutive month, data by the National Association of Realtors showed on Wednesday.

The Pending Home Sales Index declines by 10.6% last month compared with its level in January.

On an annual basis, pending home sales decreased by 0.5% in February for the first time in nine months.

The number of homes for sale dropped to a record low of 1.03 million units in February, down by 29.5% compared with its level in February 2020, in the largest annual decrease on record.