US Pending Home Sales Stall as Labor Market Concerns Build
Update: 2025-10-29
Description
Existing home sales remain stagnant in September, with pending sales index holding steady at 74.8. Despite mortgage rates easing, the job market uncertainty and potential government shutdown kept buyers on the sidelines. However, the 'lock-in effect' is waning, and more homeowners are entering the market, boosting home sales. Regional shifts show improvements in the South and Northeast, while the West and Midwest saw a drop. Home price growth slowed to 1.5% since last August, giving buyers more negotiating power. New-home sales surged in August, and experts are watching for more market movement as mortgage rates stabilize.
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