US Pending Home Sales Plummet 7.7% in April Amid High Mortgage Rates
TL;DR Summary
US pending home sales experienced their largest drop in three years in April, falling 7.7% due to high interest rates, according to the National Association of Realtors. The overall activity level was the lowest since the onset of the COVID-19 pandemic. The Federal Reserve's anticipated rate cuts later this year are expected to improve market conditions.
Topics:business#federal-reserve#interest-rates#national-association-of-realtors#pending-home-sales#real-estate#us-housing-market
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