NAR: Pending Sales Rise 1.1% in Sept.

It’s a slight gain, but NAR’s chief economist says pending sales “remain at historically low levels.” Year-over-year, pending transactions were down 11%.

Short ‘Days on Market’ Shifts to the North

Albany, N.Y., homes went under contract in 8 days in Sept., followed by Rochester (9) and Grand Rapids, Mich. (9). In 8 Fla. metros, it ranged from 25-58 days.

Mortgage Rates Rise Ever Higher, Hit 7.79%

The average for a 30-year, fixed-rate loan moved higher for the seventh week in a row. Last week it averaged 7.63%; a year ago, it was 7.08%.

4.9% 3Q Economic Growth Strongest in 2 Years

The economy more than doubled from its 2Q growth rate of 2.1% – but inflation also dropped to 2.4%. Some economists think 3Q is the high water mark before a slowdown.