Pending Home Sales: Strong Demand From Millennials

<p>The October Pending Home Sales report indicated 7.5% month-over-month versus the 0.9% estimate. Colin McBurnette's outlook on housing remains very constructive, especially by strong demand from millennials. He believes that the sellers and homebuilders are unlikely to bridge the supply gap in full. Also, he views the reappointment of Powell to be a positive for the overall markets.</p><p><br></p>