REUTERS/Richard Clement
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.