Pending home sales in the U.S. slumped to their lowest level in over twenty years in the month of October, the National Association of Realtors revealed in a report released on Thursday.
NAR said its pending home sales index tumbled by 1.5 percent to 71.4 in October after jumping by 1.0 percent to a revised 72.5 in September.
Economists had expected pending home sales to plunge by 2.0 percent compared to the 1.1 percent surge originally reported for the previous month.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.