According to a new report from Redfin, U.S. pending home sales dropped 4% month-over-month in September, hitting their lowest level since spring 2014. Pending home sales also fell across all major metros. This seems tied to mortgage rates rising over 7%; the last time this happened was in 2023, the last time mortagage rates hit that high. However, there is a major advantage for builders that can offer incentives to buyers, many of whom are searching and are serious, looking to move out of necessity. “It’s not surprising that when…
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