U.S. Pending Home Sales Sink Near 12-Year Low
Redfin, a Rocket Companies (RKT) subsidiary, reported that U.S. pending home sales fell 4% month over month to their lowest level since 2014 outside the April 2020 pandemic freeze. Mortgage rates climbed to a weekly average of 7.28% by end of September, and 14.5% of homebuying deals fell through — the highest share on record outside early 2020 — while supply hit its highest level since March 2020.
Key figures
- Closed sales mom
- -1.6%
- Median price yoy
- +1.3%
- Median sale price
- $393,895
- Supply change mom
- +1.2%
- Pending home sales mom
- -4%
- Deal cancellation share
- 14.5%
- Mortgage rate weekly avg
- 7.28%
AI analysis
Red flags1 · Pro
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.