A Third Of Pending Home Sales Canceled In October
Redfin says deal cancelations, price cuts hit record highs.
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.
Pending home sales fell 1% in July, the second straight monthly decline and eighth in nine months.
The Pending Home Sales Index (PHSI) dipped 8.6% to 91.0 for the month of June.
Year-over-year, contract activity slid in all four major regions.