U.S. pending home sales unexpectedly fall in October

WASHINGTON (Reuters) – Contracts to buy U.S. previously owned homes fell for a second straight month in October as an acute shortage of properties pushed up prices, though the housing market remains supported by record low mortgage rates.



a sign on the side of a building: FILE PHOTO: Real estate signs advertise new homes for sale in multiple new developments in York County, South Carolina


© Reuters/LUCAS JACKSON
FILE PHOTO: Real estate signs advertise new homes for sale in multiple new developments in York County, South Carolina

The National Association of Realtors said on Monday its Pending Home Sales Index, based on contracts signed last month, decreased 1.1% to 128.9. Economists polled by Reuters had forecast pending home contracts, which become sales after a month or two, would rebound 1.0% in October.

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Compared to a year ago, pending homes sales jumped 20.2% in October. The monthly decline in contracts suggests a moderation in sales of existing home sales after they accelerated in October to their highest level since November 2005.

The housing market is being

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The Best Cyber Monday Furniture Sales of 2020



a bedroom with a bed and desk in a room: Cyber Monday furniture deals are available at sites like Amazon, Home Depot, Pottery Barn, Walmart, Brooklinen, Serena & Lily and Wayfair. Save big on beds, mattresses, sofas, chairs and more.


© courtesy
Cyber Monday furniture deals are available at sites like Amazon, Home Depot, Pottery Barn, Walmart, Brooklinen, Serena & Lily and Wayfair. Save big on beds, mattresses, sofas, chairs and more.

Cyber Monday is here! And some of these deals are even better than Black Friday’s. We’re feeling gifty — and now’s the time to get in on the very best offerings our editors found this year.

Below, we broke down the best Cyber Monday furniture deals for 2020 so you can finally make those long-awaited upgrades to your home. Must-have home products like beds, sheets, sofas, mattresses and more are already on sale at retailers like Amazon, Wayfair, Home Depot, Target, Brooklinen, Pottery Barn and Serena & Lily, among others. Here are the Cyber Monday furniture deals available this very minute:

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Our Favorite Cyber Monday Furniture Deals

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U.S. Pending Home Sales Unexpectedly Fall for a Second Month

(Bloomberg) — A gauge of contract signings to purchase previously owned U.S. homes unexpectedly declined for a second month in October as higher prices and a limited number of listings impeded momentum in the housing market.

The National Association of Realtors’ index of pending home sales decreased 1.1% to 128.9 from the prior month after a revised 2% decline in September, according to data released Monday. The October drop compared with a median estimate in a Bloomberg survey of economists for a 1% gain.



graphical user interface, chart: U.S. pending home sales fall for second month as high prices limit demand


© Bloomberg
U.S. pending home sales fall for second month as high prices limit demand

The decline underscores the challenges of further upward momentum in the housing market as the lack of available properties drives up asking prices and impedes demand. At the same time, contract signings are up almost 20% from a year ago on an unadjusted basis, highlighting the strides residential real estate has

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October pending home sales fall unexpectedly, as high prices take their toll on buyers

  • Pending home sales fell 1.1% month-to-month in October but were 20.2% higher compared with October 2019.
  • The growing imbalance has prompted bidding wars and caused the median price of an existing home to jump to the highest level ever in October, according to the National Association of Realtors.



a group of people standing in front of a building: People wait to visit a house for sale in Floral Park, Nassau County, New York.


© Provided by CNBC
People wait to visit a house for sale in Floral Park, Nassau County, New York.

Strong, pandemic-induced demand for housing is still there, but buyers may now be hitting an affordability wall.

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Pending home sales fell 1.1% month-to-month in October but were 20.2% higher compared with October 2019. This reading is a measure of signed contracts on existing homes, so it is a future indicator of closed sales.

It is also, therefore, a more recent read on buyer activity because it represents people out shopping during the month and making purchase decisions. Analysts expected a small

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Global Furniture Recycling Market 2020 Applications, Market Size According to a Specific Product, Sales and Revenue by Region 2026

The MarketWatch News Department was not involved in the creation of this content.

Nov 29, 2020 (CDN Newswire via Comtex) —
The recently distributed report entitled Global Furniture Recycling Market 2020 by Company, Regions, Type and Application, Forecast to 2026 is well crafted using a combo of significant data related to the market. The report comprises a point by point knowledge about key aspects related to the global Furniture Recycling market such as product scope, market revenue, opportunities, growth rate, sales volumes, and figures. The report tracks the new technological advancements and new releases to assist clients in preparing their future-based prospective services and products as well as create profitable business decisions. The report consolidates market variations, feature assessment, cost structure, capability, movement, and measuring of business.

Growth Essentials:

The growth of the market is driven by key factors such as manufacturing activity, market situation and demand, risks of the

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19 Black Friday Furniture Sales To Shop Before They’re Over

Black Friday weekend is here and, with it, an opportunity to save big on new furniture. Whether you’re looking to give your bedroom a refresh or want to invest in an ergonomic chair for your home office, there are some amazing Black Friday furniture deals to be had this weekend. In terms of how much you can save, we’re seeing deals of up to 50% off sitewide, and some retailers are offering special promos for additional savings, including limited time flash sales.

Tip: Bookmark this page for easy access to the best Black Friday and Cyber Monday furniture sales. We’ll be updating it frequently with the latest deals and info from more retailers.

For discounts on everything from velvet sofas to snazzy bar carts to dining room tables that can double as workspace for the entire family, we’ve sussed

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Top Furniture Sites Offer Sales Of Up To 50% Off

If there’s a new couch on your wishlist this holiday season, Black Friday is an excellent time to make your purchase. Top brands like Wayfair, Apt2B, Anthropologie and others are all running major sales, and some deals are pretty deep. We’ve seen couches priced at up to 50% off or more, and there’s extra savings to take advantage of with flash sales and special promo codes.

Tip: Bookmark this page for more Black Friday couch deals. We’ll be updating it frequently with more retailers and more great sofas on sale.

Some retailers are in the middle of their Black Friday sales and others have just begun, so expect selection and availability to be a mixed bag. Several sites are extending their Black Friday sales through Cyber Monday and beyond.

Whether you’re looking for a classic chesterfield or a sleek velvet Midcentury-Modern sofa, here are our top picks

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Black Friday & Cyber Monday Patio Furniture Deals (2020): Best Hammock, Gazebo & Patio Set Sales Rated by Retail Egg

Black Friday patio furniture deals have landed, explore the best Black Friday & Cyber Monday patio furniture set discounts here on this page

Compare the latest patio furniture deals for Black Friday & Cyber Monday 2020, including offers on patio sets, hammocks, lounge chairs, gazebos and more. Links to the top deals are listed below.

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New-Home Sales Are Still Ultrahigh. Properties Are Scarce.

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Only 44,000 homes ready for occupants were on the market at the end of October.


Justin Sullivan/Getty Images

New-home sales remained sky-high in historical terms in October as properties changed hands at a seasonally adjusted annual rate 41.5% above the year-earlier level, according to government data.

Sales slipped 0.3% to an annual rate of 999,000 from a revised September rate of 1,002,000, according to figures the Census Bureau and the Department of Housing and Urban Development released on Wednesday. The consensus call among Wall Street economists was for sales of 972,500.

The last time the October rate exceeded 999,000 was in 2005, before the 2008-2009 financial crisis, according to historical data. Year to date, new home sales are 20.6% higher than last year, according to the data.

Demand for a home has far outstripped supply. While new-home sales are high, the number of homes coming on the market

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U.S. New-Home Sales Remain Elevated in October at 999,000 Pace

(Bloomberg) — New-home sales in the U.S. held up in October, remaining near the best pace since 2006 and well above pre-pandemic levels, the latest sign that record-low mortgage rates are underpinning robust buyer interest.

Purchases of new single-family houses dropped 0.3% from September to a 999,000 annualized pace from an upwardly revised 1.002 million rate, government data showed Wednesday. The median forecast in a Bloomberg survey of economists called for a 975,000 rate. The median selling price rose 2.5% from a year earlier to $330,600.

Follow reaction in real time here on Bloomberg’s TOPLive blog

Recent momentum in housing has been driven by attractive mortgage rates and buyers looking for more space as they work from home. Purchases, however, may face greater headwinds after infections began to soar around the U.S. in recent weeks and new restrictions threatened to curb hiring.



chart: New U.S. home sales fell 0.3% in October from prior month despite record-low rates


© Bloomberg
New U.S. home sales fell 0.3%

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