3/27/2013

The main industry undergirding the U.S. economic recovery exhibited a sign of weakness with a 0.4% decline in pending home sales last month. The contraction, after a 3.8% gain in January, may be due to tighter credit conditions excluding some would-be buyers, while lower inventory may be discouraging others. Looking ahead, however, a pickup is seen as more homes come on the market in spring.

Full Story:
Bloomberg

Related Summaries