August 2012 pending home sales drop 2.6% missing expectations of +.3%

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9/27/12, "MISS: Pending Home Sales Plunge -2.6%," Business Insider, Boesler

"UPDATE: Pending home sales fell 2.6 percent
in August from the previous month, missing economists' expectations of a 0.3 percent rise.
Last month's figure was revised up slightly to 2.6 percent from 2.4 percent.

Pending home sales rose 9.6 percent year-over year, down from last month's rise of 15.2 percent 

• and missing estimates of 13.5 percent.

NAR said that "contract activity in July 2012 was at the highest level since April 2010 when buyers were rushing to beat the deadline for the home buyer tax credit."...

ORIGINAL: The next big datapoint out of the U.S. this morning is pending home sales at 10:00 AM ET.

Economists polled by Bloomberg expect a rise of 0.3 percent in August from the previous month, slowing from last months rise of 2.4 percent."...

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