Pending Home Sales fell 4.6% in January and was dramatically worse than expected, adding to the widening cracks we have been highlighting in the foundation of the housing market.
Pending home sales drop to the lowest level on record in January – CNBC, February 27, 2025
This is not a good sign, as pending home sales tend to be a leading indicator for existing home sales, which already printed a big decline for January last week. Today’s report adds to the growing list of warning flags that tells us trouble is brewing in the housing market. We will continue to closely monitor our Housing [Bubble] Bellwether Barometer, along with other leading data for signs of a serious downturn in this critically important area of the economy.
