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Housing Rebound Dies:

• zerohedge.com by Tyler Durden

After disappointment in new- and existing-home-sales, pending home sales in April tumbled 1.3% MoM (missing expectations of a 0.4% gain - and well below the lowest analysts estimate).

Contract signings to purchase previously owned U.S. homes unexpectedly declined in April, underscoring the housing market's challenge centered around a persistent inventory shortage, according to data released Thursday from the National Association of Realtors in Washington.

Signings dropped in three of four regions, led by a 3.2 percent decline in the Midwest; fell 1 percent in the South and 0.4 percent in the West, while sales agreements were unchanged in the Northeast. Pending home sales index for West was lowest since June 2014.

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