Economics
U.S. Pending Home Sales Rebound With 0.5% Increase in September
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Contracts to buy previously-owned U.S. homes rose for the first time in three months, indicating that the recent market slump may be starting to stabilize, National Association of Realtors data showed Thursday.
The report signals that buyers are still looking to lock in purchases despite higher prices and mortgage rates. Data on Wednesday showed sales of new homes fell more than forecast in September to the weakest pace since 2016, while other reports have shown a drop in new-home construction and the slowest sales of existing homes in almost three years.