Pending home sales fell 7.3% month over month to a record low. The data point to sustained housing market weakness under high mortgage rates and affordability pressure. The decline is the largest in recent months and pushes the index to an all-time low.
Sentimentbearish 30
Bearish · 30 of 100
Impact50
low · stays off the top drivers
Confidence70%
moderate confidence · single wire
Eventdeveloping
v1 · alerts feed only
WHAT WE KNOW
Pending home sales fell 7.3% month over month
Index reached a record low
Pending home sales dropped 7.3% month over month to a record low, according to data reported by a market monitor. The decline signals deepening weakness in the US housing market as elevated mortgage rates and affordability constraints continue to pressure demand. The reading is the lowest on record for the index.
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