Pending home sales drop to a record low, even worse than during the financial crisis

Pending home sales, a measure of signed contracts on existing homes, dropped 1.5% in October from September.

  • They hit the lowest level since the National Association of Realtors began tracking this metric in 2001.
  • Sales were down 8.5% from October of last year.
  • That’s even worse than readings during the financial crisis more than a decade ago.

Click here to learn more.