Economics
Pending U.S. Home Sales Probably Declined for a Second Month
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Fewer Americans probably signed contracts to buy previously owned homes in October for a second month, adding to evidence a recovery in housing will take time to develop, economists said before a report today.
The National Association of Realtors’ index of pending home resales dropped 1 percent after a 1.8 percent decline the prior month, according to the median forecast of 40 economists surveyed by Bloomberg News. A separate report may show initial claims for jobless benefits rose last week from a two-year low.