- September Pending Home Sales: -2.3% M/M to 116.7 vs. +1.7% consensus and +8.1% in August.
- Contract signings dropped 8% from this time last year as signings dropped M/M and Y/Y in all four regions, according to the National Association of Realtors.
- "Contract transactions slowed a bit in September and are showing signs of a calmer home price trend, as the market is running comfortably ahead of pre-pandemic activity," said NAR Chief Economist Lawrence Yun.
- The Northeast had the biggest Y/Y drop, falling almost 19%. The Midwest index fell 5.8% Y/Y, the West declined 7.2% and the South dropped 5.8% from September 2020.
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Thursday, October 28, 2021
Pending home sales unexpectedly dip in September
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