U.S. pending home sales soars 3.1% in February

Market news

30 March 2015

U.S. pending home sales soars 3.1% in February

The National Association of Realtors (NAR) released its pending home sales figures for the U.S. on Monday. Pending home sales in the U.S. rose 3.1% in February, exceeding expectations for a 0.5% increase, after a 1.2% gain in January. January's figure was revised down from a 1.7% rise.

The NAR's chief economist Lawrence Yun said that pending home sales were driven by strengthening labour market, mortgage rates and higher demand. But he added that "the underlying obstacle - especially for first-time buyers - continues to be the depressed level of homes available for sale".

Foreign exchange market. American session: the U.S. dollar traded higher against the most major currencies after the mostly better-than-expected U.S. economic data

U.S.: Pending Home Sales (MoM) , February 3.1% (forecast 0.5%)

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