Warning: file_exists(): File name is longer than the maximum allowed path length on this platform (260): C:\zpanel\hostdata\zadmin\public_html\forexbr_com_br/wp-content/cache/supercache/www.forexbr.com.br/2020/03/29/economic-report-pending-home-sales-rise-2-4-in-february-but-the-coronavirus-outbreak-will-slow-real-estate-activity-for-months-to-come/meta-wp-cache-280397b5ff91b50c2c533dcdf45a4ca4.php in C:\zpanel\hostdata\zadmin\public_html\forexbr_com_br\wp-content\plugins\wp-super-cache\wp-cache-phase2.php on line 71 Economic Report: Pending home sales rise 2.4% in February — but the coronavirus outbreak will slow real-estate activity for months to come – Forex Brasil

Economic Report: Pending home sales rise 2.4% in February — but the coronavirus outbreak will slow real-estate activity for months to come

The numbers: The index of pending home sales increased 2.4% in February following the previous month’s rebound, the National Association of Realtors reported Monday.

The index measures real-estate transactions where a contract was signed but the sale had not yet closed, benchmarked to contract-signing activity in 2001. It serves as an indicator for existing-home sales reports in the coming months.

What happened: Compared with February 2019, signings were up 9.4% nationally.

On a monthly basis, pending sales were up in every region with the West seeing the largest gain at 4.6%, followed by the Midwest (4.5%) and the Northeast (2.8%). In the South, contract signings inched up just 0.1%.