Loading...
Market
Primary Driver for Pending Home Sales Increase in Q4 2024
2
Resolution / Starting Odds
Lower mortgage rates • 25%
Increased housing inventory • 25%
Economic growth • 25%
Other • 25%
National Association of REALTORS® quarterly report or analysis
Story
US Pending Home Sales Surge 7.4% in September to Six-Month High
Oct 30, 2024, 02:10 PM
Pending home sales in the U.S. surged by 7.4% in September, marking the largest increase in over four years. This jump is attributed to a significant drop in mortgage rates and more selection on the market, which drew more buyers. The National Association of REALTORS® reported that all four major regions experienced month-over-month gains in transactions. Year-over-year, pending home sales increased by 2.6%. The monthly increase far exceeded expectations, with estimates at 1.9% and prior figures at 0.6%. This rise brought pending home sales to their highest level since March, reaching a six-month high.
View original story
Similar markets
Less than 1% • 25%
1% to 2.5% • 25%
2.5% to 4% • 25%
More than 4% • 25%
Consumer Spending • 25%
Business Investment • 25%
Government Spending • 25%
Net Exports • 25%
High home prices • 25%
Limited inventory • 25%
Elevated mortgage rates • 25%
Other financial constraints • 25%
High home prices • 25%
High interest rates • 25%
Economic uncertainty • 25%
Other factors • 25%
Sales expectations • 25%
Economic policy expectations • 25%
Hiring plans • 25%
Capital expenditure plans • 25%
Decrease • 25%
No change • 25%
Increase by less than 10% • 25%
Increase by more than 10% • 25%
Northeast • 25%
Midwest • 25%
South • 25%
West • 25%
High home prices • 25%
Limited inventory • 25%
Elevated mortgage rates • 25%
Other • 25%