According to Redfin, U.S. pending home sales were up 1% month-over-month in October at a seasonally adjusted 401,000, the highest level in 12 months—though still down 4.8% from October 2022.
Eric Auciello, Tampa sales manager at Redfin, said in a news release, “Home prices are high, mortgage rates are high and insurance costs are high, and when buyers see the final number, a lot of them are backing out.”