Diminished Pool of Home Buyers Forces Retreat in Pending Sales

According to the latest data from the National Association of Realtors (NAR), pending home sales slid 7.1% in August, as all four U.S. regions posted monthly losses, and year-over-year declines in transactions. “Mortgage rates have been rising above 7% since August, which has diminished the pool of home buyers,” said Lawrence Yun, NAR Chief Economist….