US pending home sales fall 7.3% in September to record low

Pending home sales in the United States fell 7.3% in September to a record low, according to data from the National Association of Realtors. Reports linked the decline to rising mortgage rates that have left the housing market stalled.

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• Data from the National Association of Realtors showed pending sales fell 7.3% in September.

  «Pending Home Sales Decreased 7.3% in September»

  National Association of REALTORS® • realtor.com
• Pending sales reached their lowest level on record, at least since 25 years ago, according to NAR data.

  «falling to the lowest level recorded in at least 25 years, according to NAR data.»

  realestatenews.com
• The Wall Street Journal described the situation as the housing market hitting a wall due to rising mortgage rates.

  «the housing market hit a wall in the form of surging mortgage rates»

  The Wall Street Journal
• The decline was not limited to sales, as sales, construction and sentiment all fell more than expected.

  «with sales, construction and sentiment all falling more than expected.»

  CNBC
• Confidence among homebuilders also dropped to its lowest level in years.

  «Pending sales, builder confidence plummet to lowest levels in years»

  realestatenews.com

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