US Pending Home Sales Plunge to Near Record Lows in July
Pending home sales in the US unexpectedly plunged in July, reaching their second-lowest level on record and a record low in the West, as rising mortgage rates impacted contract signings. This significant drop indicates a weakening housing market.
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Pending Home Sales Drop to Weakest Since Start of Year
Pending sales of previously owned US homes dropped in July to the weakest since the start of the year. Bloomberg Intelligence's Drew Reading has more. (Source: Bloomberg)
Read full article →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
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