The vPending home sales in the United States grew by 1.1% during the month of September, notably improving the 7.1% decline seen in August, according to the country’s National Association of Real Estate Agents. The result improves the 1.5% drop expected for today. This is the largest increase seen in eight months, specifically since January.
He Northeast, Midwest and South posted monthly trading gains, while West experienced losss.All four US regions had year-over-year declines in transactions.
“Despite the slight gain, outstanding contracts remain at historically low levels due to the highest mortgage rates in 20 years,” said Lawrence Yun, NAR chief economist. “In addition, inventory remains tight, making sales difficult but keeping home prices elevated.”
Year-on-year, home sales fell 11% after declining 18.3% the previous month. The annual indicator has suffered continuous declines since May 2021.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
