“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.
via ZeroHedge News https://ift.tt/30j6Q9M Tyler Durden