After reporting a steep drop in U.S. pending home sales in the previous month, the National Association of Realtors released a report on Friday showing pending home sales unexpectedly saw further downside in the month of February.
NAR said its pending home sales index tumbled by 4.1 percent to 104.9 in February after plunging by 5.8 percent to a revised 109.4 in January. The continued decrease came as a surprise to economists, who had expected the index to rebound by 1.0 percent.
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