Pending home sales rise less than expected in August

U.S. August Pending Dwelling Gross sales Index elevated 0.6% to 70.6 vs. +0.9% anticipated and -5.5% in July. 12 months-over-year, pending transactions fell 3.0%. “A slight upward flip displays a modest enchancment in housing affordability, primarily as a result of mortgage charges descended to six.5% in August,” mentioned Nationwide