Redfin Reports Pending Home Sales Fall 6%, the Biggest Drop in Nearly a Year
Rocket Companies, Inc. Class A (RKT)
Company Research
Source: Business Wire
House hunters are retreating amid high housing costs and a seasonal slowdown, leading prospective sellers to pull back, too SEATTLE--(BUSINESS WIRE)--U.S. pending home sales fell 5.8% from a year earlier during the four weeks ending December 14, the biggest decline since the start of 2025. That’s according to a new report from Redfin, the real estate brokerage powered by Rocket.On a metro level, pending sales declined in all but six of the 50 most populous U.S. metro areas, with the biggest drops in San Jose, CA (-35.1% year over year), Houston (-20.9%), and Oakland, CA (-17.6%).The typical U.S. home that does sell is taking 52 days to go under contract, about a week longer than last year.House hunters are hesitant this holiday season because mortgage rates are stubbornly sitting above 6%, and home-sale prices are rising, putting homes out of reach for many would-be buyers. Additionally, many prospective buyers are waiting for clearer signals on the economy before they make a major
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