Pending home sales surged 12.1% year-over-year for the four weeks ending November 24th, marking the largest increase since May 2021, according to Redfin.
Key Highlights:
- Mortgage purchase applications climbed 12% week-over-week.
- Home tours dropped to their lowest in two months but remain 7% higher YOY.
- New listings grew 10.6% YOY, the biggest rise since April.
Our Perspective
Pending home sales often signal future trends for existing-home transactions. While election-related uncertainty and fluctuating mortgage rates initially slowed activity, the post-election market appears to be rebounding. Seasonal comparisons also play a role; last year’s Thanksgiving period muted activity, amplifying this year’s growth.
Contact Westside Los Angeles Luxury Real Estate Broker Abdo Pierre Faissal at Nourmand & Associates for more information:
📞 310-620-1038
📧 abdo@apfreg.com