US Pending Home Sales rebound across all regions - Wells Fargo

Pending home sales rose 3.1% in February. Analysts at Wells Fargo point out that all regions rose and the more consumers consider that is a good time to sell.

Key Quotes: 

“Pending home sales regained a portion of last month’s drop, rising 3.1 percent. Year-ago changes have decelerated in each of the past 3 months. Winter months can be deceiving, particularly if one winter is harsher as seems to be the case in 2018.”

“In January, pending sales fell in every region due to winter storms muting activity. This month, all regions rose, led by the Northeast and South, rising 10.3 and 3.0 percent respectively.”

“A growing share of consumers feel that now is a good time to sell a house, which hopefully will bring more supply to the market this spring.”