News Headline Summary
US Pending Home Sales (Jan) M/M 4.5% vs. Exp. 1.9% (Prev. -4.3%, Rev. -1.9%)
US Pending Home Sales (Jan) Y/Y 10.4% vs. Exp. 8.2% (Prev. 4.9%, Rev. 4.7%)
- Home prices growth seen stronger in 2013 on shortages, according to the NAR.
- Sees slower home sales in 2013 than in 2012.
- Supply/Demand balance shifted to sellers in much of US.
- Seeing inventory drawdown, strong price growth.
- Favourable conditions, job growth have unleashed demand.
27 Feb 2013 - 15:00
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