Contracts to buy previously owned homes unexpectedly fell in July, according to ...
FILE PHOTO: For Sale signs stand in front of houses in a neighborhood in Davenport, Florida, U.S., June 29, 2016. Photo taken June 29, 2016. REUTERS/Phelan Ebenhack
The NAR’s pending home sales index dropped 2.5% last month to 105.6. Economists polled by Reuters had forecast pending home sales would be flat during the month. The U.S. housing sector has been in a rut for most of the last year despite a sharp drop in mortgage interest rates. Pending home sales were down 0.3% in the 12 months through July.
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