US pending home sales for September -2.3% versus 0.0% estimate

US pending home sales for September 2021

• prior month rose 8.1%
  
• pending home sales felt -2.3% versus 0.0% estimate
  
• The index fell to 116.7 from 119.5 last month
  
• Each of the four major U.S. regions seeing contract activity decline month-over-month and year-over-year.
  
• Pending home sales are down 8% versus a year ago
  
• Higher mortgage rates may have contributed to the drop in home sales
  
• The 30 year fixed rate mortgage is at 3.14% in the current week versus 3.09% in the prior week. This according to Freddie Mac
  

Pending home sales are on signed contracts for existing homes.

Looking at the different regions, the month-to-month change his shows

• Northeast -3.2% 
  
• Midwest -3.5%
  
• South -1.8%
  
• West -1.4%
  

The regional changes year on year show:

• Northwest -18.5%
  
• Midwest -5.8%
  
• South -5.8%
  
• West -7.2%
  

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October 29, 2021 at 02:00AM
Greg Michalowski
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