Pending home sales in the U.S. plunged by more than expected in the month of April, the National Association of Realtors revealed in a report on Thursday.
NAR said its pending home sales index plummeted by 21.8 percent to 69.0 in April after tumbling by 20.8 percent to 88.2 in March. Economists had expected pending home sales to slump by 15.0 percent.
A pending home sale is one in which a contract was signed but not yet closed. Normally, it takes four to six weeks to close a contracted sale.
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Forex News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.