Welcome to the TFC Commodity Trading Forum.
Please feel welcome to join in on these informative ongoing discussions about trading futures and commodities.

The Trading Forum is intended for the open discussion of commodities trading. The management of this Forum does not agree or disagree with the ideas exchanged, and does not exert editorial control over the message posted herein. Read and post at your own risk. The risk of loss in trading or commodities can be substantial. We discourage the use of this Forum to promote trading that is acknowledged to be risky. Please note: many links from the Forum lead to pages on other web sites. We cannot take responsibility for nor endorse the information presented on those sites.

TFC Commodity Trading Forum

Pending home sales fall for second straight month

Pending home sales fall for second straight month (by Greg Robb)

WASHINGTON (MarketWatch) -Pending home sales fell in January, the second straight monthly decline, a real estate trade group reported Monday. The pending home sales index fell 2.8% in January, close to market expectations, the National Association of Realtors said. However, sales in December were much weaker than first thought. Sales in December were revised sharply lower to a fall of 3.2% versus the prior estimate of a 2% increase. The index is 1.5% below January 2010 but 20.6% above the trough hit last June after the homebuyer tax credit expired. Pending homes sales fell in the Northeast, the Midwest, and West but rose in the South. The index is based on sales contracts on existing homes. The NAR also reports on sales of existing homes once the sales close, usually six to eight weeks later.