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U.S. Pending Home Sales Fall in January

M. Ali 25 February, 2021 7:22 pm Market Update

Pending home sales in the United States declined in January, due to a shortage of supply, data by the National Association of Realtors (NAR) showed on Thursday.

The NAR Pending Home Sales Index decreased by 2.8% in January to 122.8.

The reading came against market expectations with a Reuters poll expecting the pending home sales to remain unchanged last month.

On Wednesday, data by the U.S. Department of Commerce indicated that new home sales increased by 4.3% to a seasonally adjusted annual rate of 923,000 units last month.

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