Details of the latest US pending home sales data report for September 2015
– Prior -1.4%
– 2.5% vs 7.3% exp y/y. Prior 6.7%. Revised to 6.6%
Although not usually market moving, the data does show important sentiment in housing. The NRA report that a lack of selection and stricter lending may be dissuading some people from trading up homes. That’s also something that may be affecting first time buyers too. They note "there’s a dearth of available listings at the lower end of the market for first time buyers"