Pending Home Sales Hit Four-Year Low in April
TL;DR
Pending home sales in the US fell by 7.7% in April, marking the largest drop since February 2021 and the lowest level of activity since the onset of the COVID-19 pandemic. High interest rates have dampened home buying despite increased inventory, but the Federal Reserve's anticipated rate cuts later this year may improve conditions.
Topics:businessreal-estate#federal-reserve#home-sales#housing-market#interest-rates#national-association-of-realtors#real-estate
- Pending home sales plunge to lowest level since pandemic began New York Post
- Pending home sales in April slump to lowest level since the start of the pandemic CNBC
- Pending home sales plunged in April The Hill
- Pending Home Sales Slumped 7.7% in April National Association of REALTORS®
- US Pending Home Sales Gauge Slumps to a Four-Year Low on Rates Bloomberg
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