US deferred home sales rise more than expected

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Data released on Monday showed US deferred home sales rose more than expected in October.

The index of deferred sales of homes increased last month by 7.5% to 125.2 points, after declining by 2.4% to 116.5 points last September, according to the revised data of the National Association of Realtors in the United States.

Analysts had expected deferred sales to rise over the past month. By 1%, after declining by 2.3% during the previous month, according to preliminary data.

It is noteworthy that deferred sales are those in which a preliminary contract is signed between the two parties without completing the deal, which usually takes place within a period of 4 to 6 weeks from the signing of the contract.

The index of delayed sales rose last month to its highest level since last December, but it is still 1.4 percent lower than its level during the same month last year.


Source
Sunrise Gate







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