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Pending Home Sales Fell the Most Since 2022 in December as Mortgage Rates Jumped
Pending home sales dropped 4.5% from November as mortgage rates jumped to the highest level in months. Roughly 40,000 home purchases were called off in December, equal to 16% of homes that went under contract—the highest December percentage on record. Existing home sales—a lagging indicator of deals that were negotiated in prior months when mortgage
Existing Home Sales Rise to Highest Level in Over a Year and a Half
Homebuying activity picked up in November as election uncertainty dissipated and buyers grew more accustomed to elevated mortgage rates. Existing home sales for the full year will likely be in line with 2023 levels, but we expect activity to tick up in 2025. Existing home sales rose 0.7% month over month in November to a
Existing Home Sales Post Biggest Increase in Nearly Three Years
Existing home sales rose 1.6% month over month in October to a seasonally adjusted annual rate of 4,179,346. Many buyers who came off the sidelines when mortgage rates bottomed in September finalized their purchases in October, causing sales to rise. But rates jumped last month, which—along with election jitters—put a damper on demand; pending sales
Pending Home Sales Jumped 2.5% in September, the Biggest Monthly Increase in Over a Year and a Half
Pending sales rose 2.5% month over month as mortgage rates hit a two-year low and the Federal Reserve cut interest rates. Rates have since ticked up. Existing home sales, which are a lagging indicator, fell to a seasonally adjusted annual rate of 4,023,067. That’s the lowest level on record aside from the start of the
Existing Home Sales, Pending Sales Fall to Lowest Level Since Pandemic Start as House Hunters Wait for Mortgage Rates to Drop Further
Sales of existing homes dropped 1% month over month in August to a seasonally adjusted annual rate of 4 million, while pending sales fell 2%. Declining mortgage rates are giving buyers more purchasing power, but some house hunters are waiting on the sidelines in hopes that rates will fall further. Others are hesitant to buy
Existing Home Sales Rose 0.6% Last Month, But Were At the Lowest July Level on Record
Sales of existing homes fell 2% year over year to a seasonally adjusted annual rate of 4.1 million in July. Pending sales were down 3% month over month and 6% year over year—both of which were the biggest drops in nearly a year. Home prices were just 0.7% below their record high—one reason buyers stayed
Pending Home Sales Fell the Most Since 2022 in December as Mortgage Rates Jumped
Pending home sales dropped 4.5% from November as mortgage rates jumped to the highest level in months. Roughly 40,000 home purchases were called off in December, equal to 16% of homes that went under contract—the highest December percentage on record. Existing home sales—a lagging indicator of deals that were negotiated in prior months when mortgage
Existing Home Sales Rise to Highest Level in Over a Year and a Half
Homebuying activity picked up in November as election uncertainty dissipated and buyers grew more accustomed to elevated mortgage rates. Existing home sales for the full year will likely be in line with 2023 levels, but we expect activity to tick up in 2025. Existing home sales rose 0.7% month over month in November to a
Existing Home Sales Post Biggest Increase in Nearly Three Years
Existing home sales rose 1.6% month over month in October to a seasonally adjusted annual rate of 4,179,346. Many buyers who came off the sidelines when mortgage rates bottomed in September finalized their purchases in October, causing sales to rise. But rates jumped last month, which—along with election jitters—put a damper on demand; pending sales
Pending Home Sales Jumped 2.5% in September, the Biggest Monthly Increase in Over a Year and a Half
Pending sales rose 2.5% month over month as mortgage rates hit a two-year low and the Federal Reserve cut interest rates. Rates have since ticked up. Existing home sales, which are a lagging indicator, fell to a seasonally adjusted annual rate of 4,023,067. That’s the lowest level on record aside from the start of the
Existing Home Sales, Pending Sales Fall to Lowest Level Since Pandemic Start as House Hunters Wait for Mortgage Rates to Drop Further
Sales of existing homes dropped 1% month over month in August to a seasonally adjusted annual rate of 4 million, while pending sales fell 2%. Declining mortgage rates are giving buyers more purchasing power, but some house hunters are waiting on the sidelines in hopes that rates will fall further. Others are hesitant to buy
Existing Home Sales Rose 0.6% Last Month, But Were At the Lowest July Level on Record
Sales of existing homes fell 2% year over year to a seasonally adjusted annual rate of 4.1 million in July. Pending sales were down 3% month over month and 6% year over year—both of which were the biggest drops in nearly a year. Home prices were just 0.7% below their record high—one reason buyers stayed
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