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February Pending Home Sales Rose 2.4%

Mortgage News > February Pending Home Sales Rose 2.4%
Date: 04/01/2020    February Pending Home Sales Rose 2.4%

While certainly no predictor of future sales at this point, pending U.S. home sales rose a strong 2.4% in February from January and were up 9.4% over the previous year, the highest growth rate in three years, according to the National Association of Realtors. Pending sales rose 4.6% in the West, 4.5% in the Midwest, 2.8% in the Northeast, and just 0.1% in the South. Demand was robust, but contract cancellations may be as much as 10% on those pending sales because of the coronavirus situation, says NAR chief economist Lawrence Yun.

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