US: Pending Home Sales fall by 3.8% in December versus expected 0.2% decline

• Pending Home Sales saw a larger than expected 3.8% MoM drop in December. 
• There was no discernable immediate market reaction to the data. 

Pending Home Sales in the US fell by 3.8% on a monthly basis in December following November's 2.3% decline (revised lower from a 2.2% decline), data published by the US National Association of Realtors showed on Thursday. That was well below expectations for a decline of 0.2% MoM. The Pending Home Sales Index fell to 117.7 in December from 122.3 (downwardly revised from 122.4) in November. 

Market Reaction

There was no discernable immediate market reaction to the data.