Source: National Association of Realtors
Pending Home Sales in the United States retreated in September, as some prospective buyers have paused their plans until next year. XHB is up 1.78%.
- The Pending Home Sales Index stood at 116.7 in September, down by 2.3% from August’s 119.4 and 8.0% lower than the 126.9 in September 2020.
- The month-on-month decline was the biggest in the midwest at -3.5%, followed by the northeast at -3.2%, the south at -1.8%, and the west at -1.4%.
- Annual declines were much larger, led by the Northeast at -18.5%, the west at -7.2%, and both the midwest and south at -5.8%.
- NAR Chief Economist Lawrence Yun said transactions are showing signs of a “calmer” home price trend, but less inventory is expected until end-2021.
- Yun also noted that potential buyers have pushed back their purchases until 2022, but falling rental vacancy rates could lead to more sales.
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