US Pending Home Sales MoM (Dec) M/M -9.3% vs. Exp. -0.3% (Prev. 3.3%)
Newsquawk Staff ·
US Pending Home Sales MoM (Dec) M/M -9.3% vs. Exp. -0.3% (Prev. 3.3%)
What it means
The sharp decline of 9.3% in US pending home sales for December, compared to expectations of only a 0.3% drop, indicates a significant downturn in the housing market. This miss could suggest weakening demand and may imply that economic conditions are affecting consumer confidence, which could lead to shifts in monetary policy moving forward.
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