28 Mar 2016
US pending home sales likely to rebound in February - Nomura
Research Team at Nomura, notes that the US housing market activity has been choppy in recent months after steady gains for the better part of 2015.
Key Quotes
“But the recent volatility is likely attributable to transitory factors such as difficulty in seasonally adjusting February data and unfavorable weather conditions. As such, we continue to expect demand to remain relatively robust this year as demographics, mortgage rates and labor market conditions remain favorable. Consensus expects pending home sales to rebound in February, increasing by 1.5% following a 2.5% decline in the prior month.”
Key Quotes
“But the recent volatility is likely attributable to transitory factors such as difficulty in seasonally adjusting February data and unfavorable weather conditions. As such, we continue to expect demand to remain relatively robust this year as demographics, mortgage rates and labor market conditions remain favorable. Consensus expects pending home sales to rebound in February, increasing by 1.5% following a 2.5% decline in the prior month.”