US June pending residence gross sales +4.8% vs +1.5% anticipated

• Prior was -2.1%
• Index at 74.3 vs 70.8 prior (revised to 70.9)

Strength was broad-based with the midwest, south and west all growing strongly. It’s a rare recent sign of life in the housing market, though the chart highlights how far the index has fallen.

This article was written by Adam Button at www.forexlive.com.