US Pending Home Sales Advance to Highest Level Since Early 2023
- Measure of contract signings rose 2.2% in November, est. 0.8%
- Sales led by South, with smaller gains in West and Midwest
Housing affordability in the US remains under strain amid high prices and elevated borrowing costs.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Pending sales of US homes increased for a fourth month in November to the highest level since early 2023 as homebuyers gave up hopes for lower borrowing costs.
A National Association of Realtors measure of contract signings rose 2.2% to 79, the highest since February 2023. The median estimate in a Bloomberg survey of economists called for a 0.8% increase.