October Was a Spooky Month for the U.S. Housing Market

Source: Mansion Global — 

Would-be buyers are turning their backs on the turbulent U.S. housing market in droves, according to new data released from Redfin on Monday. 

The number of pending sales, the amount of deals being scrapped and the proportion of homes seeing their asking price slashed all reached foreboding milestones in an October chill that could rival winter’s. 

Pending sales dropped 32.1% annually to 414,492 last month, the largest decline since at least 2013, when Redfin’s records began.