Reported about 17 hours ago
Pending sales for existing homes in the US stagnated in September, reflecting buyer hesitance due to labor market worries, despite lower mortgage rates. The National Association of Realtors reported a stable index of contract signings, showing a 4.2% increase in the previous month. While high stock markets and increased housing wealth failed to bolster buyer confidence, experts noted improving affordability could stimulate sales. Additionally, the 'lock-in effect' is reducing, prompting more inventory as the housing market gradually recovers.
Source: YAHOO