Pending Home Sales in US See Biggest Gain Since Summer 2020
- Index of sales remains low despite outsize September rise
- All US regions report increases, led by jump in western states
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US pending home sales saw their biggest gain in more than four years in September, as a late-summer dip in borrowing costs and more selection on the market lured buyers.
An index of contract signings for existing homes climbed 7.4% to 75.8 last month, marking the strongest increase since June 2020, according to data released Wednesday by the National Association of Realtors. The increase exceeded the median estimate of economists surveyed by Bloomberg, who saw it rising 1.9%.