Pending home sales, a measure of signed contracts on existing homes, dropped 1% from June to July, according to the National Association of Realtors.
Pending home sales, a measure of signed contracts on existing homes, dropped 19.9% in July compared with July 2021.
Pending home sales, a measure of signed contracts on existing homes, slipped 1% from June to July, according to the National Association of Realtors. Compared to a year ago, sales were down 19.9%. The drop in sales was smaller than previous months and could be a sign of the market settling, even if for a brief period.
Mortgage rates have been climbing steadily this year, peaking in June before dropping slightly in July. Rates resumed their rise this week and are now approaching 6% again, according to Mortgage News Daily.
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