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U.S. Pending Home Sales Retreat for First Time in Five Months

  • Contract signings are still up 21.9% unadjusted from year ago
  • September pending sales decline in three of four U.S. regions
Prospective Buyer Attends Open Houses Ahead Of Existing Home Sales
Photographer: Daniel Acker/Bloomberg
Updated on

A gauge of U.S. pending home sales unexpectedly declined in September for the first time in five months, a sign elevated asking prices and lean supply are tempering the boom in housing despite the record-low interest rates.

The National Association of Realtors’ index of contract signings to purchase previously owned homes decreased 2.2% from the prior month to 130, according to data released Thursday. The September gauge, down from a record 132.9, compared with a median estimate in a Bloomberg survey of economists for a 2.9% gain.