FPSA pending home sales unexpectedly tumble in September!
WASHINGTON (PNN) - October 28, 2021 - After surging an unexpected 8.1% Month over Month in August, and on the heels of rebounds in new- and existing-home sales, Pending Home Sales in September were expected to scrape out a modest 0.5% MoM rise, but that was a long way off as Pending Home Sales tumbled 2.3% MoM.
“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 Lawrence Yun, NAR’s chief economist.
“It’s worth noting that there will be less inventory until the end of the year compared to the summer months, which happens nearly every year.”