US Pending Home Sales Plunge to Near Record Lows in July
US pending home sales unexpectedly plunged in July, reaching the second-lowest level on record nationally and record lows in the West. Rising mortgage rates are cited as a key factor impacting contract signings.
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Pending home sales unexpectedly plunge in July as mortgage rates hit contract signings
Read full article →US Pending Home Sales Plunge Back Near Record Lows In July
US Pending Home Sales Plunge Back Near Record Lows In July Following another disappointment in existing home sales in July, weak homebuilder sentiment, and plunging housing starts, pending home sales tumbled for the second month in a row in July (-2.3% MoM vs 0.0% exp - below thew worst forecast), dragging sales down 2.5% YoY - the biggest annual drop since April 2025... This decline matches the second-worst reading in data back to 2001... “The highest mortgage rates of th...
By Tyler Durden
Read full article →Pending Home Sales Drop to 2nd Lowest on Record, Plunge to Record Low in the West, to Near-Record Low in the South
Stuck in the mud at the bottom for a 4th year, after the 2020-2022 home-price explosion.
By Wolf Richter
Read full article →Coverage Timeline
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