Nov pending home sales data from the National Association of Realtors
- Sales -0.9%
- +0.7% expected
- Prior +0.2% (revised to +0.4%)
- Sales up 5.1% y/y vs +4.0% exp
- Prior revised to +2.3% y/y from +2.1%
The soft month-over-month reading and strong year-over-year reading don't add up. An earlier report of existing home sales was also weak but there are few genuine concerns about the housing market.