"The jump in pending sales occurred in all four regions of the county, with the West leading the way with a 9.8% monthly gain, followed by the Midwest (+7.1%), the South (+6.7%) and the Northeast (+6.5%)."
"A slight improvement in pending-sales activity reflects August's sharp decline in mortgage rates, which helped boost housing demand and provide some much-needed consumer optimism, particularly for the purchase of big items."
"However, with rates pushing back to 7%, the rebound in pending activity is likely short lived and is unlikely to be enough to help 2024 home sales exceed 2023 levels."
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