Pending Home Sales October 2023

By
Industry Observer CDRE #01044712

On November 30, 2023, National Association of Realtors® (NAR) reported that nationwide pending contract signed home sales lower 1.5% to an index of 71.4 in October of 2023 from September of 2023, and decreased 8.5% from October of 2022.

Pending home sales index in the Northeast declined 2.7% to an index of 64.8 in October of 2023 from September 2023, but fell 6.5% from October of 2022.

Pending home sales index in the Midwest lost 0.4% to an index of 73.8 in October of 2023 from September 2023, and dropped 10.3% from October of 2022.

Pending home sales index in the South down 1.9% to an index of 85.6 in October of 2023 from September 2023, and decreased 7.1% from October of 2022.

Pending home sales index in the West lower 6.0% to an index of 51.8 in October of 2023 from September 2023, and declined 10.8% from October of 2022.

Lawrence Yun, NAR chief economist, stated "Recent weeks' successive declines in mortgage rates will help qualify more home buyers, but limited housing inventory is significantly preventing housing demand from fully being satisfied. Multiple offers, of course, yield only one winner, with the rest left to continue their search."

For more complete detailed information, on National Association of Realtors's October of 2023 pending home sales report, please click HERE

Posted by

John Pusa

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Comments (6)

Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Indeed I noted that there are fewer Pending in my market and more specifically I only have one pending from my own inventory, Endre

Nov 30, 2023 10:32 PM
Roy Kelley
Retired - Gaithersburg, MD

Thank you very much, John, for sharing this report.

Have a great day!

Dec 01, 2023 10:28 AM
John Pusa
Glendale, CA

Hello Endre Barath, Jr. you are right, there are fewer Pending in yours and other markets. It is good that you only have one pending from your own inventory. Thanks for the comment.

Dec 01, 2023 02:28 PM
John Pusa
Glendale, CA

Hello Roy Kelley you are very welcome, glad you find this report very helpful. Thank you, and have a great day too. Thanks for the comment.

Dec 01, 2023 02:31 PM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

1.5% movement doesn't sound like a whole lot but I know the volume that it represents certainly is a lot.

Dec 02, 2023 04:47 AM
John Pusa
Glendale, CA

Hello Brian England I agree, 1.5% movement doesn't sound like a whole lot but the volume represents certainly is a lot. Thanks for the comment.

Dec 02, 2023 02:54 PM