Pending Home Sales Fell In March To 4-Month Low
NAR's Pending Home Sales Index fell 5.2% to 78.9 in March, the lowest level since November 2022.
NAR's Pending Home Sales Index fell 5.2% to 78.9 in March, the lowest level since November 2022.
NAR's Pending Home Sales Index rose 0.8% in February.
It was the second straight monthly increase, and the largest since June 2020.
Redfin report also shows year-over-year improvement.
Redfin report finds that areas with the biggest pending sales declines were pandemic homebuying hotspots.
Sixth-straight monthly decline occurred even as mortgage rates dipped.
Redfin says deal cancelations, price cuts hit record highs.
Home sales, listings continue to decline, leading to a record share of sellers dropping prices.
Index fell 2% in August from July, and is down 24.2% year over year.