May 22, 2024

November pending home sales unchanged, despite lower mortgage rates

SAN ANSELMO, CALIFORNIA – NOVEMBER 30: A “sale pending” sign is posted in front of a home for sale on November 30, 2023 in San Anselmo, California. According to a report by the National Association of Realtors, pending home sales fell 1.5 percent in October to their lowest level in 20 years. (Photo by Justin Sullivan/Getty Images)

Justin Sullivan | Getty Images News | Getty Images

Pending home sales in November were unchanged compared with October and 5.2% lower than November of last year, according to the National Association of Realtors.

The reading, which is based on signed contracts during the month, is a forward-looking indicator of closed sales as well as the most current look at what potential homebuyers are thinking.

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