US Pending Home Sales Decline -2.2% MoM In September, But Rise +21.9% YoY (Still Limited Inventory)

The classic “Good news, Bad news” story. US Pending Home Sales are UP 21.9% YoY … but down -2.2% MoM.

Pending home sales display the classic v-shaped recovery despite mortgage credit availability tanking.

Low inventory of homes for sale continues to plague housing markets, contributing to soaring median home prices.

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