U.S. pending home sales slide 4.7 percent in January

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Title : U.S. pending home sales slide 4.7 percent in January
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news-today.world | WASHINGTON (Reuters) - Contracts to buy previously owned homes unexpectedly declined in January to their lowest level in more than three years, another sign that the housing market appears to be losing some momentum.

The National Association of Realtors said on Wednesday its pending home sales index dropped to a reading of 104.6, down 4.7 percent from the prior month. December’s index was also downwardly revised to 109.8.

Economists polled by Reuters had forecast pending home sales rising 0.3 percent last month.

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