A report released by the National Association of Realtors on Thursday showed pending home sales in the U.S. plunged by much more than expected in the month of January, extending the sharp pullback seen in December.
NAR said its pending home sales index dove 4.6 percent to an all-time low of 70.6 in January after tumbling 4.1 percent to a revised 74.0 in December.
A separate report released by the Commerce Department on Wednesday showed a substantial pullback by new home sales in the U.S. in the month of January.
The Commerce Department said new home sales plunged by 10.5 percent to an annual rate of 657,000 in January after spiking by 8.1 percent to an upwardly revised rate of 734,000 in December.