Weekly Market Observations - December 6, 2023

Here’s Our Weekly Market Observations :

Pending home sales fell 1.5% MOM in October and 8.5% YOY

The West saw a 6% MOM decline in pending home sales whereas the Northeast saw a 2.7% increase

Multifamily construction declines further while single-family construction increases

Average 30-year fixed mortgage rates down again to 7.22%