📉Pending home sales have reached an all-time low, worse than during the Great Recession.
🌎The Northeast is the only region with a monthly gain in home sales, while the Midwest, South, and West all experienced declines.
📉The trend of declining home sales has been ongoing for 29 consecutive months.
📊Low inventory levels and high prices are limiting housing demand despite lower mortgage rates.
💰Builders have been lowering prices and offering incentives to boost new home sales.
Why are pending home sales at an all-time low?
—The low inventory levels and high prices are limiting housing demand.
Which region experienced a monthly gain in home sales?
—The Northeast was the only region to have a monthly gain.
How long has the trend of declining home sales been going on?
—The trend of declining home sales has been ongoing for 29 consecutive months.
Are lower mortgage rates helping boost home sales?
—Despite lower mortgage rates, limited housing inventory and high prices are limiting housing demand.
What are builders doing to boost new home sales?
—Builders are lowering prices and offering incentives to attract buyers.
00:00Pending home sales have reached an all-time low, worse than during the Great Recession.
00:08The Northeast was the only region with a monthly gain in home sales, while the Midwest, South, and West all experienced declines.
01:36The trend of declining home sales has been ongoing for 29 consecutive months.
02:09Low inventory levels and high prices are limiting housing demand despite lower mortgage rates.
09:01Builders have been lowering prices and offering incentives to boost new home sales.
