The latest pending home sales data from the nation’s realtors was even more disappointing than expected, but the stock market is unconcerned. Maybe it should be.
Pending home sales, a leading indicator of future closings, fell 1.3% in July, the NAR said, compared with forecasts of a 1% decline. Apparently rock-bottom interest rates aren’t enough to revive housing demand……………………………………….Full Article: Source