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Pending Home Sales Crash 7.7%, Biggest Drop In Four Years

• https://www.zerohedge.com

There was some hope for a rebound in US housing indicators, after the recent existing home sales print rebounded, but that was promptly dashed after pending home sales dropped again in November, sliding -0.7% vs the expected 1.0% increase, declining in six of the last eight months, with a cumulative loss since March of -5.9% (-8.9% annualized)...

...and crashed a whopping 7.7% compared to last year, the biggest annual drop since April 2014.

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