Pending homes plunge, “surprising economists”
Published: Thursday, 30 Jan 2014 | 10:00 AM ET
By: Katie Little | Staff Writer
Signed contracts to buy existing homes dropped 8.7 percent in December as abnormally cold weather hit much of the U.S., according to a new report from the National Association of Realtors.
The plunge caught economists by surprise. Economists polled by Reuters had forecast pending home sales would tick up 0.3 percent.
