Pending Home Sales Jump Most In 8 Months On Hurricane Rebound

Following the bounces in new- and existing-home sales in October, all eyes are on Pending Home Sales to complete the trifecta of ‘proof’ that housing is back baby… and it did rising 3.5% MoM (beating expectations of a 1.0% gain). The driver of the surge was The South (up 7.4% MoM) as September’s 3% hurrican tumble is erased.
September’s data was revsised slightly lower (from 0.0% to -0.4%) but October’s jump is the biggest since Feb..

This post was published at Zero Hedge on Nov 29, 2017.