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Pending Home Sales Down 17% YoY

Pending home sales are down nearly 20%, representing the biggest decline in over four months, but people are still showing interest in homebuying despite the total number of U.S. homes for sale declining 6% from last June.

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Recent Housing Market Downturns Targeting Western Regions, Upscale Areas

"We are starting to see some patterns that show where the U.S. housing market is cooling off and how it's hitting homeowners based on some key metrics. It looks so far—and it's important to stress, so far—to be having more impact in places with the highest housing costs and less impact elsewhere," said Rob Barber, CEO at ATTOM.

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Federal Reserve: No Rise in Interest Rates This Month

“The Committee seeks to achieve maximum employment and inflation at the rate of 2% over the longer run. In support of these goals, the Committee decided to maintain the target range for the federal funds rate at 5.00% to 5.25%,” the Fed said in a prepared statement.

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