US September pending home sales 0.0% vs +1.0% expected

• Prior was 4.0% (revised to 4.2%)

The pending home sales index remained unchanged in September despite falling mortgage rates, according to NAR. However the August reading was revised slightly higher. Commentary in the report cited rising angst about the labor market. It also highlighted that inventory was at a five-year high.

Regionally:

Northeast

• 3.1% increase month over month
• 0.5% increase year over year

Midwest

• 3.4% decrease month over month
• 1.5% decrease year over year

South

• 1.1% increase month over month
• 0.9% increase year over year

West

• 0.2% decrease month over month
• 5.3% decrease year over year

This article was written by Adam Button at investinglive.com.