Contracts to buy U.S. previously owned homes increased for a third straight month in February, raising cautious optimism that the housing market slump could be bottoming out.
The National Association of Realtors said on Wednesday its Pending Home Sales Index, based on signed contracts, rose 0.8% last month to the highest level since August. Contracts jumped 6.5% in the Northeast. They also edged higher in the Midwest and South, but dropped 2.4% in the West.
Mortgage rates have since been trending lower as the collapse of two U.S. regional banks sparked fears of contagion in the banking sector, pushing down U.S. Treasury yields. Pending home sales decreased 21.1% in February on a year-on-year basis. Data this month showed sales of previously owned homes rebounded for the first time in a year in February, while new home sales notched their third straight monthly increase.Homebuilder sentiment is recovering, though it remains at depressed levels. Single-family housing starts and building permits also rose in February.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
U.S. pending home sales rise for the third month in a row in FebruaryU.S. pending-home sales rose 0.8% in February, the National Association of Realtors said on Wednesday.
Read more »
Exclusive: Canada budget sees contracts for difference for large clean-tech projects -sourceCanada's budget will introduce a system to lock in future carbon credit prices, a move meant to boost investments by giving businesses certainty to develop low-carbon technologies, a senior government source with knowledge of the document told Reuters on Monday.
Read more »
Op-Ed | Boosting opportunity for minority-owned businesses with NYC contracts | amNewYork'The State has the opportunity now to close disparities in government contracting and facilitate the economic success of communities of color.'
Read more »
PHOTOS: The Best DC Parties This Past February and MarchDan About Town: The Best of Bashes, Balls, and Benefits This Past February and March Peep BarredinDC 👀
Read more »
Fullerton police release footage from February pursuit shootingAustin Heiselman was unarmed when he was shot and killed after a pursuit through Fullerton and La Habra in February.
Read more »
Malaysia: Inflation remained sticky in February – UOBUOB Group’s Senior Economist Julia Goh and Economist Loke Siew Ting review the latest inflation figures in Malaysia. Key Takeaways “Headline inflation
Read more »