According to the National Association of Realtors, May's pending home sales fell 2.1% month over month, compared to an expected 0.5% increase.We want to start with some breaking news that we have out right now on housing pending home sales falling 2.1% in the most recent monthly.When you take a look at some of these other numbers on a regional basis, Northeast sales actually increasing 1.1% on a month over month basis in the Midwest it fell in the South, falling 5.
So that indicates to me that that could be an issue moving forward for the feds inflation targets because we know that one potential driver of inflation is the fact that people are locked into their houses were not seeing as much movement in the housing market.We even heard the president speaking about this.
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