U.S. Pending Home Sales Plunge Most Since 2010 on Virus Fallout

Contracts to buy existing homes plunged in March by the most since 2010 as the coronavirus forced people to stay at home and the economy spiraled down.

An index of pending home sales fell 20.8% from February, according to National Association of Realtors data released Wednesday. The median forecast in a Bloomberg survey of economists called for a decrease of 13.6%. Compared with a year earlier, contract signings dropped 14.5% on an unadjusted basis.