Pending home sales in the US fell by 4.6% month-over-month in October of 2022, the fifth consecutive decline, but slightly below market forecasts of a 5% retreat. Pending home sales fell for the fifth month in a row in the Northeast (-4.3%) and in the South (-6.4%), while the West (-11.3%) slumped for a second month. Year-over-year, pending home sales fell by 37%, the sharpest decline on record. "October was a difficult month for home buyers as they faced 20-year-high mortgage rates. The upcoming months should see a return of buyers, as mortgage rates appear to have already peaked and have been coming down since mid-November", said NAR Chief Economist Lawrence Yun. source: National Association of Realtors
Pending Home Sales MoM in the United States averaged 0.02 percent from 2001 until 2022, reaching an all time high of 41.90 percent in May of 2020 and a record low of -30.30 percent in May of 2010. This page includes a chart with historical data for the United States Pending Home Sales MoM. United States Pending Home Sales MoM - data, historical chart, forecasts and calendar of releases - was last updated on December of 2022.
Pending Home Sales MoM in the United States is expected to be -1.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Pending Home Sales MoM is projected to trend around 2.00 percent in 2023 and 0.30 percent in 2024, according to our econometric models.