Pending home sales transactions stopped declining in September, breaking away from the declining trend of the past several months, according to an Oct. 3 report by real estate brokerage Redfin.
A pending sale is recorded when a contract for buying a home has been signed but the transaction has not been closed. These transactions are seen as an early indicator of upcoming sales closures.
“Pending U.S. home sales were flat from a year earlier during the four weeks ending September 29, marking the first time since January pending sales didn’t decline,” according to the report. “Pending sales increased year over year in 27 of the 50 most populous U.S. metros, the most since January.”…