US pending home sales unexpectedly rebound in February on lower mortgage rates

Group 1 - The pending home sales index in the U.S. increased by 1.8% in February to 72.1, contrary to economists' expectations of a 0.5% decline [1][2] - The increase in contracts was observed in the West, South, and Midwest regions, while the Northeast experienced a 0.8% decline in pending home sales compared to the previous year [2] - Mortgage rates initially eased due to government actions but have recently increased due to rising oil prices and U.S. Treasury yields linked to geopolitical tensions [2][3] Group 2 - Housing affordability is a significant political issue ahead of the upcoming midterm elections, with actions taken to improve access to mortgage credit and reduce regulatory barriers for affordable housing construction [3] - Builders face challenges in increasing single-family home construction due to high material costs from tariffs, labor shortages, and a lack of available building lots [4] - In 2025, approximately 943,000 housing units were started, a decrease from 1.016 million units in 2024, indicating a slowdown in new home construction [5]