Pending Sales of U.S. Existing Homes Decline 1.8%
This article is for subscribers only.
Pending sales of U.S. existing homes unexpectedly declined in September, a sign the housing market will take a long time to mend.
The National Association of Realtors’ index of pending home resales dropped 1.8 percent after a revised 4.4 percent gain the prior month. Compared with the same month a year ago, pending sales were down 25 percent. Moratoriums on foreclosure and stricter lending are limiting progress, the group said.