The Pending Home sales, the number of contracts Americans signed to buy existing homes, unexpectedly fell 0.6% in October for a 5th consecutive month due to higher borrowing costs that are denting the real-estate recovery, the National Association of Realtors said this week.
Economists were expecting 1% growth. So it is way below the estimates. This suggests that many people cannot qualify for mortgages due to the higher interests rate. As rates are surely going to go up in the next few months because of the Fed tightening, things are likely to get worse.
That would be another blow to the local Brooklyn housing market. Then, it would be very hard to sell your house in the near future.
However, there is always a way to Sell Your House Fast. We are Cash Investors and Buy Houses As Is All CASH throughout Brooklyn and the Bronx, NY. We don't use banks. please contact us and receive our cash offer within 2 business days. For more into, please go to our main website:
