March pending sales take a dive

I hate to sound like a broken record, but the housing data continues to disappoint. The latest example: March pending home sales. Sales tanked 4.9% from February and 10.5% from March 2006. Activity is now running at its lowest level in four years. Throw in the ugly April home builder confidence index, and you have plenty of proof that the spring selling season is shaping up to be a dud.