Pending home sales were unchanged from the prior month and fell 0.9% year-over-year in September, according to the National Association of Realtors.
"Contract signings matched the second-strongest pace of the year. However, signings have yet to fully reach the level needed for a healthy market despite mortgage rates reaching a one-year low," said NAR Chief Economist Lawrence Yun. "A record-high stock market and growing housing wealth in September were not enough to offset a likely softening job market."
Month-over-month, there were gains in the Northeast and South but declines in the Midwest and West.
On a year-over-year basis, there was a 0.9% decrease in pending home sales, with gains in the Northeast and South and declines in the Midwest and West.
Find more information here.
