No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - US pending home sales rose much more than expected in August, according to data released on Monday by the National Association of Realtors.
Pending home sales grew 4% on the month, taking the index to 74.7. This was comfortably ahead of expectations of 0.2% growth.
On the year, pending home sales were up 3.8%.
NAR chief economist Lawrence Yun said: "Lower mortgage rates are enabling more home buyers to go under contract.
"In the Midwest, low mortgage rates combined with high levels of affordability are attracting more buyers compared to other regions."
The index for the Northeast fell 1.1% on the month to 63.7, while the index for the Midwest rose 8.7% to 76.4. The index for the South was 3.1% higher month-on-month in August at 88.9, while the index for the West rose 5% to 59.3.
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.