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US: Pending Home Sales Plunge to Near-Record Low in the Data, Hit Low in the West. Since then, Mortgage Rates Rose Further
Pending home sales plunged by 5.4% in June from May, seasonally adjusted, to the lowest level for any June on record, down 0.3% from the abysmally low levels in June last year, down 36% from June 2021, 37% from June 2020, 34% from June 2019, 32% from June 2018, and down 20% from June 2011, during the Housing Bust, according to data from the National Association of Realtors. Its data only goes back to mid-2010. This is now the fourth year that demand has been in the deep-freeze, amid the highest supply of existing single-family homes in 10 years and of existing condos in 14 years. Pending home sales fell in all ... (full story)
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Pending home sales in June decreased by 5.4% month-over-month and 0.3% year-over-year, according to the National Association of REALTORS® Pending Home Sales report. The report provides the real estate ecosystem—including agents, homebuyers and sellers—with data on the level of home sales under contract. Month-over-month pending home sales declined in all ...
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