Economics
U.S. Pending Home Sales Fall Most Since April on Low Inventory
- National Association of Realtors index drops 10.6% in February
- All four U.S. regions saw declines in contract signings
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U.S. pending home sales fell in February by the most since April as rising home prices and a shortage of available properties deterred buyers.
The National Association of Realtors’ index of pending home sales decreased 10.6% from the prior month to 110.3, the lowest reading since May, according to data released Wednesday. The median estimate in a Bloomberg survey of economists called for the measure to fall 3%.