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Pending home sales fell 20% in June versus a year earlier as mortgage rates soared

Pending home sales fell 20% in June versus a year earlier as mortgage rates soared

A “Sale Pending” sign outside a house in Discovery Bay, California, on Thursday, March 31, 2022.

David Paul Morris | Bloomberg | Getty Images

Signed contracts to purchase existing homes dropped 20% in June compared with the same month a year ago, the National Association of Realtors said Wednesday.

That is the slowest pace since September 2011, with the exception of the first two months of the coronavirus pandemic lockdowns, when sales plunged…


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