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Pending Home Sales Dropped in September

Pending Home Sales Dropped in September (MarketWatch)

For the first time in two years, pending sales of homes were lower than year-earlier levels, as reported by the National Association of Realtors. September pending home sales were down 1.2% from a year previous, having dropped 5.6% from August. “The data suggest sluggish home sales going into the end of the year and are sending a warning signal to the Fed as they meet this week that the housing recovery might not be self-sustaining yet and even modest rate fluctuations can considerably affect demand,” said Yelena Shulyatyeva, an economist at BNP Paribas.

Mortgage interest rates appear to be a leading factor in the softening housing market. Where should interest rates go next and who should put them there? Sound off below.

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For the first time in two years, pending sales of homes were lower than year-earlier levels, as reported by the National Association of Realtors.

archive

Pending Home Sales Dropped in September

For the first time in two years, pending sales of homes were lower than year-earlier levels, as reported by the National Association of Realtors.

Pending Home Sales Dropped in September (MarketWatch)

For the first time in two years, pending sales of homes were lower than year-earlier levels, as reported by the National Association of Realtors. September pending home sales were down 1.2% from a year previous, having dropped 5.6% from August. ??The data suggest sluggish home sales going into the end of the year and are sending a warning signal to the Fed as they meet this week that the housing recovery might not be self-sustaining yet and even modest rate fluctuations can considerably affect demand,? said Yelena Shulyatyeva, an economist at BNP Paribas.

Mortgage interest rates appear to be a leading factor in the softening housing market. Where should interest rates go next and who should put them there? Sound off below.

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