US pending home sales hold near record lows in November

US pending home sales fell in November as all four US regions registered year-on-year declines in transactions.

According to the National Association of Realtors, pending home sales fell 5.2% month-on-month, following a revised 8.2% drop in October to hold near record lows.

In October, pending home sales hit their lowest level since the NAR started monitoring the metric in 2001 - worse than readings during the height of the Covid-19 pandemic and the global financial crisis of more than a decade ago.

Reporting by Iain Gilbert at Sharecast.com