Reported about 22 hours ago
Housing contract signings fell unexpectedly in June, indicating a stagnant market as buyers struggle with high prices and mortgage rates near 7%. The Pending Home Sales Index dropped 0.8% from May and 2.8% from last year, with declines across most regions, apart from a slight increase in the Northeast. As inventory rises, many potential buyers remain sidelined, leading to a surge in contract cancellations. Experts warn that home sales in 2025 may be even worse than the previous year's lows.
Source: YAHOO