The National Association of Realtors’ index of pending home sales climbed 8.1% to 82.5 in January, higher from the projected estimate of 1.0% by Bloomberg economists.
On a yearly basis, however, pending transactions plunged by nearly 24%.
Meanwhile, it's also being reported that apartment rents are falling.
Apartment rents fell in every major metropolitan area in the U.S. over the past six months through January, a trend that is poised to continue as the biggest delivery of new apartments in nearly four decades is slated for this year.
Renters with new leases in January paid a median rent that was 3.5% lower than they would have paid last August, according to estimates from listing website Apartment List.
It was the first time in five years that rent fell every month over a six-month period.
No comments, just one question: what's the definition of "transitory"?
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