Pending home sales declined 1.7% in October, according to the National Association of Realtors (NAR).
Pending home sales are up 4.4% compared with October 2018.
“While contract signings have decreased [compared with September], the overall economic landscape remains favorable,” NAR Chief Economist Lawrence Yun said in a statement. “Mortgage rates continue to be low at below 4%, which will attract buyers.” Employment levels also remain strong, according to Yun.
Regionally, pending home sales in the Midwest, South and West fell 2.7%, 1.7% and 3.4%, respectively. The Northeast had a sales increase of 1.9%.
The full NAR report can be found here.
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