US: Focus on pending home sales today – Nomura

Analysts at BBH note that US pending home sales fell 4.7% m-o-m in January, portending further slowdown in existing home sales in coming months.

Key Quotes

“Considering steady consumer demand and that the decline in January was partly driven by relatively inclement weather in the first half of the month, pending home sales could rebound notably in February. That said, inventory shortages will likely continue to affect sales and rising mortgage rates could exert downward pressure on consumer demand.”