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US Pending Home Sales Stall as Labor Market Concerns Build

From finance.yahoo.com

Pending sales of existing US homes stalled in September, suggesting anxiety about the job market kept potential buyers sidelined despite a welcome easing in mortgage rates. An index of contract signings held at 74.8 after climbing a revised 4.2% a month earlier to the highest level since March, according to National Association of Realtors data released Wednesday. Economists expected a 1.2% increase, based on the median estimate in a Bloomberg survey. “A record-high stock market and growing housing wealth in September were not enough to offset a likely softening job market,” NAR Chief Economist Lawrence Yun said in a ... (full story)

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  • Category: Fundamental Analysis