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Pending Home Sales Rise to 12-Month High: Redfin

Price cuts, paying for closing costs and other concessions have helped drive home sales to their highest level in a year. So reports Money.

According to Redfin, U.S. pending home sales were up 1% month-over-month in October at a seasonally adjusted 401,000, the highest level in 12 months—though still down 4.8% from October 2022.

Eric Auciello, Tampa sales manager at Redfin, said in a news release, “Home prices are high, mortgage rates are high and insurance costs are high, and when buyers see the final number, a lot of them are backing out.”

Read the full article from Money.

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