Pending Home Sales declined 3.7% last month, more than double the anticipated drop in homes under contract. The low supply of houses actually for sale is said to be the culprit.
Instead, U.S. consumers are spending their money on other stuff: Personal Spending rose 0.4%, while Personal Income only rose 0.2%. Way to go America.
Investors are banking (literally) on central banks around the globe easing monetary policy to keep this party going. Good thinking world.