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.