Pending home sales declined for the fourth consecutive month in September, as higher mortgage interest rates and higher home prices curbed buying power
The National Association of Realtors® released its pending home sales numbers for September, showing contracts to purchase homes declined in most markets across the country. September is the first period in more than two years that pending sales weren’t greater than year-earlier levels.
In Flagstaff at the end of September, pending sales were actually quite strong, apparently bucking the national trend. You can see this my monthly Flagstaff home sales report where ACR, PBK and Pending contracts were all enough to push October and November sales into equivalency with recent months. In addition, pending Flagstaff home sales reflected in homes under contract as of October 28 remain about the same as at the end of September.
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Pending Home Sales Continue Slide in September — National Association of Realtors®
Higher rates, prices cut pending home sales, according to MarketWatch analysis.