(Reuters) - The National Association of Realtors said its index of
pending home sales -- a forward-looking gauge -- slumped
sharply by 3.5 percent in May to 97.7, its lowest level since
September 2001.
The steep drop came as a surprise to financial markets
since economists polled by Reuters had forecast the May index
would instead rise, by 0.2 percent.
Read more at Reuters.com Economic News
pending home sales -- a forward-looking gauge -- slumped
sharply by 3.5 percent in May to 97.7, its lowest level since
September 2001.
The steep drop came as a surprise to financial markets
since economists polled by Reuters had forecast the May index
would instead rise, by 0.2 percent.
Read more at Reuters.com Economic News
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