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RNP - Pending Home Sales Drop Slightly In February
Cohen & Steers Reit and Preferred Income Fund Inc
By Jill Mislinski
This morning the National Association of Realtors released the February data for their Pending Home Sales Index. Here is an excerpt from the latest press release:
Lawrence Yun, NAR chief economist, said February's pending home sales decline is coming off a solid gain in the prior month. "In January, pending contracts were up close to 5 percent, so this month's 1 percent drop is not a significant concern," he said. "As a whole, these numbers indicate that a cyclical low in sales is in the past but activity is not matching the