The September monthly report from the National Association of Realtors showed a jump of 7.4% in pending sales compared to August, with a 2.6% year-over-year increase in contract signings in September.
NAR Chief Economist Chief Economist Lawrence Yun weighed in on these developments, attributing the rise to “the combination of lower mortgage rates in late summer and more inventory choices,” before adding “further gains are expected if the economy continues to add jobs, inventory levels grow, and mortgage rates hold steady.”
Pending sales were up in regions across the country, with the South seeing a 6.7% increase…