From FoxBusiness.com…
Pending home sales fell for a second straight month in July as the once red-hot housing market showed signs of slowing down.
The Pending Home Sales Index, a forward-looking indicator of home sales based on contract signings, slipped 1.8% last month to 110.7, the lowest since April, according to the National Association of Realtors. A score of 100 is equal to the level of contract activity in 2001.
Analysts surveyed by Refinitiv were expecting pending home sales to rise 0.4% in July after falling a downwardly revised 2% in June.
Contracts signed fell 8.5% year over year.
