Real Estate

October pending home sales fall, as high prices take toll on buyers

0


People wait to visit a house for sale in Floral Park, Nassau County, New York.

Wang Ying | Xinhua News Agency | Getty Images

Strong, pandemic-induced demand for housing is still there, but buyers may now be hitting an affordability wall.

Pending home sales fell 1.1% month to month in October but were 20.2% higher compared with October 2019. This reading is a measure of signed contracts on existing homes, so it is a future indicator of closed sales.

It is also, therefore, a more recent read on buyer activity because it represents people out shopping during the month and making purchase decisions. Analysts expected a small monthly gain.

“The housing market is still hot, but we may be starting…



Source cnbc.com

The bar is raised for news that can lift the market as the crowd now believes next year will be good

Previous article

Weekly jobless claims are inaccurate and the unemployed are being underpaid, watchdog says

Next article

You may also like

Leave a Reply

avatar
  Subscribe  
Notify of

More in Real Estate