As pending home sales slowed to the weakest level in over a year-and-a-half, the outlook for this year’s single-family sales was lowered due to hurricanes.
A forward-looking indicator of home sales based on contract signings, the Pending Home Sales Index, was reported Wednesday at a seasonally adjusted 106.3 for August.
In addition to declining 3 percent from the last report, it was the lowest level for the index since January 2016, when the index was previously reported to be 106.0.
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From:: Financing