Pending home sales have dropped more than 30% year-over-year across the nation, the lowest level since 2015, according to a new housing market report from Redfin.
The most significant declines were in Las Vegas, Phoenix, and Austin — each witnessing a drop larger than 50% on average.
“It’s best described that we ended the year with a whimper rather than a roar,” said Matthew Gardner, Chief Economist for Windermere Real Estate, on Seattle’s Morning News. “We know the number of homes for sale is certainly significantly higher than we’ve seen, but the number of sales is down. And, depending on how you look at it, we’re seeing a retraction
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