January 2016 US pending home sales -2.5% vs 0.5% exp m/m

• Prior 0.1%. Revised to 0.9%
• -0.9% vs 4.1% exp y/y. Prior 3.1%

The finger is being pointed at the weather but also price levels and lower inventories. It's the lesser of all the main housing numbers but it's been a bit more shaky of late and we need to watch whether the same pattern feeds across into the other housing numbers.