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Here Comes Pending Home Sales...

Mamta BadkarFeb 28, 2014, 20:14 IST

REUTERS/Richard Clement

Pending home sales for January are out at 10 a.m. ET.

Economists polled by Bloomberg are looking for pending home sales to rise 1.8% month-over-month and fall 10.8% year-over-year.

This compares with a 8.7% MoM fall in December, and a 6.1% YoY fall.

The index is considered to be a leading indicator for future existing home sales. The Commerce Department expects that 80% of signings will become existing home sales transactions within two months.