Pending Home Sales Plunge In June As Demand Is Weighed Down By Surging Mortgage Rates

Topline Pending home sales—a leading indicator for housing market activity—plunged by a more than expected 20% in June compared to a year ago, according to new data from the National Association of Realtors on Wednesday, with experts warning that higher mortgage rates will continue to negatively impact demand. A surge in borrowing costs has continued … Read more

Pending Home Sales See Surprise Rebound In May, But Experts Warn Housing Market Is ‘Undergoing A Transition’

Topline A leading indicator for housing market activity—pending home sales—unexpectedly jumped in May and reversed six straight months of declines, to new data from the National Association of Realtors on Monday, though experts warn that higher mortgage rates will continue to weigh on demand . Sales were still down “sizably” from a year ago as … Read more