Pending Home Sales Sink Across Regions as West Declares New Low
TL;DR Summary
U.S. pending home sales declined 2.3% in July to the second-lowest on record, with the West hitting a new record low and the South and Northeast also down, as mortgage rates sit around 6.4%–6.7% and supply remains elevated. The market remains embedded in a multi-year lull since the 2020–22 price boom, and high contract cancellations suggest weak closings ahead.
- Pending Home Sales Drop to 2nd Lowest on Record, Plunge to Record Low in the West, to Near-Record Low in the South Wolf Street
- US Pending Home Sales Slide to Weakest Since Start of Year Bloomberg.com
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- There has never been a worse time to sell a home, survey says OregonLive.com
- US Pending Home Sales Plunge Back Near Record Lows In July Forex Factory
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