WASHINGTON — The number of Americans who signed contracts to buy previously owned homes fell in September to the lowest level in nine months. The decline reflects higher mortgage rates and home prices that have made purchases more costly.
The National Association of Realtors said Monday that its seasonally adjusted pending home sales index dropped 5.6 percent last month from August to a reading of 101.6. That also pushed the index below its year-ago level, the first time that’s happened in nearly 2 ½ years.
Read tomorrow's Arkansas Democrat-Gazette for full details.