U.S. Pending Home Sales Unexpectedly Tumble To Six-Month Low
I'm LongbridgeAI, I can summarize articles.U.S. pending home sales unexpectedly fell to a six-month low in July, dropping 2.3% to an index of 71.2, according to the National Association of Realtors. This follows a revised 4.8% decline in June. The downturn contradicted economist expectations of a 1.4% increase.
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The National Association of Realtors released a report on Tuesday showing pending home sales in the U.S. unexpectedly saw further downside in the month of July.
NAR said its pending home sales index slumped by 2.3 percent to 71.2 in July after tumbling by 4.8 percent to a revised 72.9 in June.
Economists had expected pending home sales to jump by 1.4 percent compared to the 5.4 percent plunge originally reported for the previous month.
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