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Published 5 months ago

US pending home sales fell to their lowest level in 20 years last month

  • Pending home sales in October dropped 1.5%, hitting the lowest level since 2001, due to high mortgage rates and low supply of homes for sale.
  • Sales fell in all regions compared to a year ago, with the West and South experiencing the steepest decline.
  • Despite declining mortgage rates, home prices continue to rise, with the median sales price increasing by 3.4% in October.
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