Redfin Reports 2% Increase in Pending Home Sales in Four Weeks Ended Oct.6-March 2024-www.financetom.com

Redfin Reports 2% Increase in Pending Home Sales in Four Weeks Ended Oct.6

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Redfin Reports 2% Increase in Pending Home Sales in Four Weeks Ended Oct.6

Oct 10, 2024 11:10 PM

10:39 AM EDT, 10/10/2024 (MT Newswires) -- Redfin (RDFN) said Thursday that pending home sales in the US rose by 2% year-on-year in the four-week period through Sunday, the biggest growth in three years.

The company said pending sales increased as mortgage rates declined weeks ahead of the anticipated Federal interest rate cut in late September. Mortgage rates, however, rebounded over the weekend and could impact sales in the coming weeks, Redfin noted.

According to Redfin, pending home sales are increasing in most major metros in the US, but are declining in Florida due to "increasing prevalence of climate disasters."

Price: 9.91, Change: -0.31, Percent Change: -3.07

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