Home sales are stalled with 7% mortgages
Buyer activity has been dropping and the housing market is on hold until mortgage rates drop.
Pending Home Sales
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Pending home sales rise again as buyers capitalize on more inventory
The National Association of Realtors reported that pending home sales jumped 2.2% month over month and 6.9% year over year in November.
Active listings climb as the end of 2024 nears
Months of supply edged up 0.6% year over year to 4 months, indicating a balanced market and cooling competition.
Jump in pending home sales foreshadows positive end to the market in 2024
The 77.4 reading for NAR’s pending sales index is the highest mark since March and the third highest going back to December 2023.