Published: 2024-10-30T14:13:04.000Z
U.S. September Pending Home Sales - Bounce may be difficult to sustain
Senior Economist , North America
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Pending home sales have seen a strong 7.4% increase in September which coincided with the start of Fed easing and expectations for further rate cuts to come. With easing expectations having been pared down since then, the bounce may prove difficult to sustain in October.
Weekly data from the Mortgage Bankers Association shows house purchases slipping back in October after a bounce in September, though the NAHB homebuilders’ index extended a September gain in October.
September’s pending home sales gain was broad based by region and suggests a stronger October existing home sales outcome, though such a bounce may be difficult to sustain.
