U.S. Pending Home Sales Drop for the Third Consecutive Month After Predicted Gains

U.S. Pending Home Sales Drop for the Third Consecutive Month After Predicted Gains

Pending home sales fell 5.7% in January after a 9.5% year-over-year decrease and three consecutive months of declines, Realtor.com reports. Though economists polled by the Wall Street Journal initially predicted a 1% increase in pending home transactions, consumers pulled back as a result of rising interest rates, higher inflation, and a lack of housing supply.…
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