US Housing Market Shows Signs of Recovery Despite Mortgage Rate Hike
TL;DR Summary
Pending home sales rose for the third consecutive month in February, indicating that the housing market's contraction is coming to an end, according to the National Association of Realtors. However, the West saw a 2.4% decline in pending sales, while the Northeast led all four regions with a 6.4% jump. Home prices on the West Coast are plunging at the same time home prices on the East Coast are surging. The 30-year mortgage rate remained high, forcing sellers to bring down prices in a bid to attract buyers.
Topics:business#home-prices#housing-market#mortgage-rates#national-association-of-realtors#pending-home-sales#real-estate
- Housing rebound: contraction is near an end as activity 'turned the corner' Markets Insider
- Pending home sales squeezed out a tiny gain in February, as mortgage rates jumped CNBC
- US pending home sales rise for third straight month; loan demand increases Yahoo Finance
- LA-Orange County homebuying slumps 36% to slowest February on record The San Gabriel Valley Tribune
- Consumer Cos Up After Pending-Home Sales Data -- Consumer Roundup MarketWatch
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