Here Comes Pending Home Sales...

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

Economists polled by Bloomberg are looking for pending home sales to rise 0.2% month-over-month and fall 9% on the year.

This compares with a 0.1% MoM rise and a 9.1% YoY fall in pending home sales in January.

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.