November 21, 2024 9:43 pm
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Pending home sales down 2.3% in September

Sale-pending-sign-44de41-300x199By Diana Olick | CNBC

Signed contracts to buy existing homes dropped 2.3 percent in September from August and were just 3 percent higher than one year ago, according to the National Association of Realtors (NAR) Pending Home Sales Index.

August’s read was revised down slightly. Analysts had expected a slight gain for the month. This is the second straight monthly drop and is also the second lowest reading of the year. Pending sales are a forward-looking indicator of closed sales for the next two months.

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