{"id":78469,"date":"2024-08-29T05:00:42","date_gmt":"2024-08-29T12:00:42","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=78469"},"modified":"2024-08-29T13:29:33","modified_gmt":"2024-08-29T20:29:33","slug":"housing-market-update-pending-sales-housing-payments-fall","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/housing-market-update-pending-sales-housing-payments-fall\/","title":{"rendered":"Falling Mortgage Rates Have Yet to Improve Home Sales, With Buyers Uncertain About NAR Settlement, Election"},"content":{"rendered":"

Pending home sales posted their biggest decline in nearly a year, despite the median U.S. housing payment dropping to its lowest level in five months. Would-be homebuyers are waiting for clarity about the NAR settlement, the presidential election and whether mortgage rates will fall more.\u00a0<\/span><\/i><\/p>\n

Pending home sales fell 6.9% during the four weeks ending August 25, the biggest annual decline in nearly a year. That\u2019s despite the median monthly U.S. housing payment falling to its lowest level since February as weekly average <\/span>mortgage rates<\/span><\/a> drop to their lowest level in 15 months.\u00a0<\/span><\/p>\n

Sales aren\u2019t yet improving because many would-be homebuyers are playing the waiting game. Redfin agents report that house hunters are out there touring homes, but some of them are hesitant to buy right now. <\/span>Would-be buyers are waiting for one or all of the following:\u00a0<\/b><\/p>\n