In November, new listings jumped to their highest level since October 2022, while home prices also posted its biggest increase since the same time last year. Pending home sales also continued to rise, but many home purchases fell through at a record rate as some homebuyers got cold feet, according to a new Redfin report.
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High Rates Push Pending Home Sales Down 13%
Mortgage interest rates have remained stubbornly high in recent weeks, well after the summertime busy season moving into the tamer fall season.
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