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%
