US: Pending Home Sales decline by 5.2% in March vs. +0.5% expected

Pending Home Sales in the US fell sharply in March.
US Dollar Index holds in positive territory above 101.50.

Eren Sengezer FXStreet

Pending Home Sales in the US declined by 5.2% on a monthly basis in March, the data published by the National Association of Realtors showed on Thursday. This reading followed February's no-change (revised from +0.8%) and came in much worse than the market expectation for an increase of 0.5%.

On a yearly basis, Pending Home Sales fell by 23.2%, compared to analysts' estimate for a decline of 22.8%.

Market reaction

The US Dollar Index showed no immediate reaction to these data and was last seen rising 0.2% on the day at 101.65.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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