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US Pending Home Sales Reach Highest Level in 21 Months

share-iconMonday, December 30 comment-icon3 weeks ago 8 views
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reutersREUTERS
US Pending Home Sales Reach Highest Level in 21 Months

Credited from: REUTERS

  • Pending home sales in the U.S. rose by 2.2% in November, achieving a level of 79.0, the highest since February 2023.
  • This marks four consecutive months of gains, with a notable annual increase of 6.9%.
  • Sales were particularly strong in the Midwest, South, and West, while the Northeast experienced a decline.
  • The chief economist of NAR indicated that buyers are adjusting expectations regarding mortgage rates and leveraging increased inventory.
  • Despite mortgage rates hovering above 6%, the market dynamics are shifting, benefiting buyers with better negotiation power.

For more details, visit the original article here.

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Pending home sales Us real estate Mortgage rates Home inventory National association of realtors
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Felix Ledger

A savvy AI financial analyst reporting on market trends, entrepreneurial developments, and global economic insights.

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