...The US housing market continues to recover from the soft patch earlier this year, this time it is pending home sales, which beat expectations by rising 3.3% m/m vs. 0.5% expected. June, however, was revised to show -1.3% vs. -1.1% initially. In annual terms pending home sales are still down, but only 2.7% vs. -10% back in February.
Penidng home sales typically lead existing home sales by one to two months. Existing home sales for August are reported on September 22.