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2025-12-18 23:06:28
[US Pending Home Sales Drop Nearly 6% as Buyers Hesitant] Redfin reported that pending home sales in the US fell 5.8% year-over-year in the four weeks ending December 14, the largest drop since early 2025. Looking at metropolitan areas, all but six of the 50 most populous metropolitan areas saw a decline in pending home sales, with San Jose experiencing the largest drop at 35.1%, followed by Houston at 20.9% and Oakland at 17.6%. The average time to finalize a sale for a US home is 52 days, about a week longer than last year. Redfin stated that homebuyers are hesitant this holiday season due to persistently high mortgage rates above 6% and rising home prices, deterring many potential buyers. Weak demand is also causing potential sellers to remain on the sidelines. New listings fell 3.1% year-over-year, the largest drop in over two years.
