- October Pending Home Sales: -1.1% M/M vs. +2.0% consensus and -2.2% in September.
- Marks the second straight M/M decline.
- Contract activity was mixed among the four major U.S. regions, with the only positive M/M growth in the South.
- Nationally, contract signings are up 20.2% Y/Y, with all regions experiencing double-digit Y/Y increases.
- "Pending home transactions saw a small drop off from the prior month but still easily outperformed last year's numbers for October," said Lawrence Yun, NAR's chief economist. "The housing market is still hot, but we may be starting to see rising home prices hurting affordability."
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Monday, November 30, 2020
Pending home sales unexpectedly slip in October
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