NAR: Pending Sales Rise 1.1% in Sept.
It’s a slight gain, but NAR’s chief economist says pending sales “remain at historically low levels.” Year-over-year, pending transactions were down 11%.
Short ‘Days on Market’ Shifts to the North
Albany, N.Y., homes went under contract in 8 days in Sept., followed by Rochester (9) and Grand Rapids, Mich. (9). In 8 Fla. metros, it ranged from 25-58 days.
Mortgage Rates Rise Ever Higher, Hit 7.79%
The average for a 30-year, fixed-rate loan moved higher for the seventh week in a row. Last week it averaged 7.63%; a year ago, it was 7.08%.
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