Published: 2025-03-27T14:10:56.000Z
U.S. February Pending Home Sales - Correction from record low
Senior Economist , North America
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Pending home sales with a 2.0% February increase have corrected a 4.6% January decline that took the series to a record low, falling below even the April 2020 outcome seen at the height of the pandemic.
The rise came largely in the South, which led the January decline. Lower mortgage rates in response to moves in UST yields may have provided some support.
The gain may not do much to lift existing home sales, where a February rise was stronger than existing home sales data had implied. Recent years have seen a tendency for existing home sales to come in above trend in February, suggesting February’s existing home sales resilience was overstated.
