The National Association of Realtors Pending Home Sales Index fell 5.6 percent in September, down 1.2 percent on a year-over-year basis overall and 9.8 percent lower in the West despite a year-over-year increase in listed inventory levels.
It’s the fourth month in the row the Pending Home Sales Index has declined, the lowest level for the index since December 2012, and the first year-over-year decline for the index in 29 months.
As we wrote in August: Rising Rates Start Reeling In Pending Home Sales.