Reuters: Financial Services and Real Estate: IFR-Preview-U.S. April pending home sales seen dipping

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IFR-Preview-U.S. April pending home sales seen dipping May 29th 2012, 22:05 Tweet Share this Email Print Related Topics Bonds News » Bonds » Markets » Financials » Tue May 29, 2012 6:05pm EDT WHAT: National Association of Realtors Pending Home Sales, April WHEN: Wednesday 1000 EDT (1400 GMT) FORECASTS (pct) Reuters IFR Previous Pending sales +0.1 -0.5 +4.1 IFR COMMENTARY: "We look for the NAR's Pending Home Sales Index to have slipped about 0.5% in April after March's 4.1% jump. The shift from a record warm month to more seasonable weather in April may have been enough to blunt home-shopping, as seen in the NAHB Housing Market Index's traffic component (though it only covers the new-home market), which slid from 22 to 18. Our call would put pending home sales growth at 1.5% y/y, the same as in February. The index would still be at its second-highest level since April 2010, when it was inflated by an expiring homebuyer tax credit. Sales should continue to be stimulated by an improving (if slowly) labor market and low mortgage rates, which helped the NAR's Housing Affordability Index hit a record high in Q1." -- by Theodore Littleton of IFR Markets, a unit of Thomson Reuters. Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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