"Tremendously Low" Rates Send Pending Home Sales Soaring To Record Highs Tyler Durden Wed, 09/30/2020 - 10:10
US Pending Home Sales soared 8.8% MoM (massively better than the 3.1% rise expected and 5.9% rise in July)...
Source: Bloomberg
This sent the YoY rise in pending home sales to +20.5% - the biggest annual gain since April 2010...
All of which sent pending home sales to a new record high...
Source: Bloomberg
“Tremendously low mortgage rates have again helped pending home sales climb,” said Lawrence Yun, NAR’s chief economist.
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