February Housing Market Update
Pending Home Sales rose 8.1% from December to January, which was more than expected. Sales were down 24.1% from a year ago, but was still an improvement from 33.9% decline in December. Pending Home Sales is a very critical data to show how the housing market is doing.
Interest rates did rise following the Job Report that came out on February 3rd, which was stronger than expected. If upcoming data that should come out by the end of this week, where it shows cooling inflation or weakness in the economy, could drive interest rates lower!!!!!
