Fewer buyers signed contracts to buy homes in August. Is the market softening?
Another week brings more economic indicators for investors to watch. This time around, we’ll see pending home sales, consumer confidence, durable goods orders, the weekly initial jobless claims, as well as personal income and outlays.
Pending home sales
This report came out Monday morning from the National Association of Realtors. It tracks signed contracts on homes, condos and co-ops and is considered a leading indicator of housing activity.
The pending home sales index came in under expectations, falling 0.5 percent for the month of February.
On Tuesday, the Conference Board releases the Consumer Confidence Index for the month of March. Consumer confidence skyrocketed in February, up to 70.8 from 61.5, the revised reading for January.