US pending home sales fell 7.7% in April to a four-year low due to rising mortgage rates, NAR reports.
Pending home sales in the US fell by 7.7% in April, reaching a four-year low, due to rising mortgage rates, according to the National Association of Realtors (NAR). All four U.S. regions experienced a decline in pending home sales, and NAR's chief economist, Lawrence Yun, expects that the Federal Reserve's anticipated rate cut later this year will improve affordability and increase supply.
May 30, 2024
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