Economy·October 20, 2026 at 10:00 AM EDT·4 sources
US Pending Home Sales Plunged in September to a Record Low
September pending-home-sales decline7.3%
Pennsylvania median home-price changefell 4.5%
What happened
- Pending sales of existing US homes fell to a record low in September.
- Sales contracts dropped 7.3% in September, missing estimates, as high mortgage rates weighed on demand.
- Mortgage rates remained in the mid-7% range, deepening the housing-market slowdown.
September pending-home-sales decline
7.3%
Mortgage-rate range cited by Redfin
mid-7% range
Pennsylvania median home-price change
fell 4.5%
Why it matters
The slowdown signals weaker housing demand and may affect lenders, real-estate companies, financial institutions and investors assessing mortgage credit, consumer activity and rate sensitivity.
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Timeline
- First reported by BloombergOct 20US Pending Home Sales Plunged in September to a Record Low
- CNBC reportsOct 20Pending home sales drop 7.3% in September, missing estimates
- Financial Times reportsOct 20US pending home sales fall to record low as mortgage rates surge
- PR Newswire reportsOct 21Pennsylvania Median Home Sales Price and Sales Fell in September
Who is involved
US Pending Home Sales Plunged in September to a Record LowRedfinPennsylvania Association of Realtors
CompanyAgency
Sources (4)
- BloombergOct 20US Pending Home Sales Plunged in September to a Record Low
- CNBCOct 20Pending home sales drop 7.3% in September, missing estimates
- Financial TimesOct 20US pending home sales fall to record low as mortgage rates surge
- PR NewswireOct 21Pennsylvania Median Home Sales Price and Sales Fell in September
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