U.S. Pending Home Sales Drop to Near 12-Year Low as Mortgage Rates Exceed 7%
Macro·2 articles across 2 outlets·◆ Primary source
Story updated Rewritten when the story materially grows; the wire is checked every 15 minutesAbout this data
Pending home sales in the U.S. have fallen to a level not seen in nearly 12 years, driven by rising mortgage rates. The increase in mortgage rates, which have surpassed 7%, is significantly impacting the housing market and buyer activity.
According to Redfin, the decline in pending home sales reflects broader trends in the real estate market, as higher borrowing costs continue to deter potential homebuyers. This situation marks a critical moment for the housing sector as it grapples with affordability challenges.
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“U.S. Pending Home Sales Sink Near 12-Year Low”
SEC Filing — U.S. Pending Home Sales Sink Near 12-Year Low“Redfin says pending home sales are sinking to a near 12-year low as mortgage rates top 7%”
quartz — Redfin says pending home sales are sinking to a near 12-year low as mortgage rates top 7%