Redfin: US pending home sales fall 3.5% to nearly three-year low
RKT•Pending home sales fall to nearly three-year low
- Redfin reported U.S. pending home sales fell 3.5% week over week to 299,126, the lowest level in nearly three years.
- The report pointed to weakening demand, giving buyers more negotiating leverage as inventory stayed elevated.
- Median U.S. home-sale price rose 2% year over year to $397,633, signaling price resilience despite slower activity.
- Daily average 30-year fixed mortgage rate was 7.24% on Sept. 16, up from 6.97% a week earlier.
- Mortgage-purchase applications fell 1% week over week, down 19% year over year, reinforcing the demand slowdown.
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