Joke Headline of the Day: "Pending Home Sales Rise"; Five Housing Headwinds

Zero Hedge : Pending Home Sales Plunge At Fastest Pace Since April 2011 It took about one second to understand the discrepancy. All but the ZeroHedge headline (not necessarily the articles) ignored the NAR statement (see first link) " The Pending Home Sales Index,* a forward-looking indicator based on contract signings, inched up 0.2 percent to 101.7 in November from a downwardly revised 101.5 in October, but is 1.6 percent below November 2012 when it was 103.3. " ZeroHedge has a chart that shows just that.

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Joke Headline of the Day: "Pending Home Sales Rise"; Five Housing Headwinds