Pending Home Sales Plunge To Weakest Since 2014

in #housing • 5 years ago

The pending home sales stages a big miss this morning.

It was reported that they fell 2.6% MoM versus an expected 0.5% MoM increase. This followed poor sales in the new home sector.

There was also a 4.6% decline YoY, the 10th month in a row this was experienced.

The housing market is seeing more people sitting idle. A massive run up in home prices along with rising interest rates are the reasons many point to.

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#realestate #sales #economy #sharingcontent
5 years ago in #housing by
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