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What’s behind drop in sales contracts?

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sales contractsDaily Real Estate News

Pending home sales lost more ground in September, reaching the second lowest level of the year, according to the National Association of REALTORS®’ Pending Home Sales Index, a forward-looking indicator based on contract signings. Pending home sales dropped 2.3 percent month-over-month in September as all four of the major U.S. regions saw a decrease in contract activity.

Lawrence Yun, NAR’s chief economist, says several factors are contributing to September’s cool off in contract signings.

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