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National Association of Realtors–Federal Reserve

Contract signings for existing homes fell to their lowest level in over two decades as mortgage rates climbed past 7%. The sharp decline reverses a brief August stabilization, signaling continued affordability constraints for prospective buyers.

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Illustration: Pending home sales plunged 7.3% in September as mortgage rates climbed past 7%.From: US Pending Home Sales Plunge 7.3% to Record Low in September

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The Pending Home Sales Index fell to its lowest level since tracking began in 2001.From: US Pending Home Sales Plunge 7.3% to Record Low in September ·
Mortgage rates reversed their late-summer decline, crossing back above 7% in September.From: US Pending Home Sales Plunge 7.3% to Record Low in September ·
August contract signings edged up 0.3% from July, though they remain 4.7% lower than the previous year.From: US Pending Home Sales Edge Up 0.3% in August as Buyers Navigate High Rates ·
Illustration: Homeowners with sub-4% mortgage rates are choosing to stay put, severely restricting the supply of available homes.From: US Pending Home Sales Plunge 7.3% to Record Low in September ·
Buyers are highly sensitive to small shifts in mortgage rates, acting quickly when financing costs offer a brief window of relief.From: US Pending Home Sales Edge Up 0.3% in August as Buyers Navigate High Rates ·

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