Pending home sales up 3rd straight month

July Pending Home Sales: +5.9% to 122.1 vs. +1.5% consensus and +15.8% prior (revised).

"Consumers are taking advantage of record-low mortgage rates resulting from the Federal Reserve’s maximum liquidity monetary policy. For all of 2020, existing-home sales are expected to decline by only 3%, with sales ramping up to 5.6 million by the fourth quarter. New home sales are projected to rise by 3%," said Lawrence Yun, NAR’s chief economist.