{"id":152532,"date":"2025-10-30T02:29:08","date_gmt":"2025-10-30T02:29:08","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/152532\/"},"modified":"2025-10-30T02:29:08","modified_gmt":"2025-10-30T02:29:08","slug":"us-pending-home-sales-flat-in-september-job-market-worries-likely-dissuading-buyers","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/152532\/","title":{"rendered":"US pending home sales flat in September; job market worries likely dissuading buyers"},"content":{"rendered":"<ul data-testid=\"Summary\" class=\"summary-module__summary__QjADA\">\n<li data-testid=\"Body\" class=\"text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf summary-module__point__UgXPz\">Pending home sales unchanged in September<\/li>\n<li data-testid=\"Body\" class=\"text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf summary-module__point__UgXPz\">Softening labor market, economic uncertainty sidelining prospective home buyers<\/li>\n<li data-testid=\"Body\" class=\"text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf summary-module__point__UgXPz\">Government shutdown delaying some applications for loans, flood insurance coverage<\/li>\n<\/ul>\n<p>WASHINGTON, Oct 29 (Reuters) &#8211; Contracts to purchase previously owned U.S. homes were unexpectedly unchanged in September, likely as worries about the labor market and economic uncertainty kept prospective buyers on the sidelines despite declining mortgage rates.<\/p>\n<p>The flat reading in pending home sales last month, which was reported by the National Association of Realtors on Wednesday, followed an upwardly revised 4.2% increase in August.<\/p>\n<p data-testid=\"promo-box\" class=\"text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf article-body-module__promo-box__hVl8h\"> Sign up  <a data-testid=\"Link\" referrerpolicy=\"no-referrer-when-downgrade\" href=\"https:\/\/www.reuters.com\/business\/us-pending-home-sales-unexpectedly-flat-september-despite-lower-mortgage-rates-2025-10-29\/undefined?location=article-paragraph&amp;redirectUrl=%2Fbusiness%2Fus-pending-home-sales-unexpectedly-flat-september-despite-lower-mortgage-rates-2025-10-29%2F\" class=\"text-module__text__0GDob text-module__inherit-color__PhuPF text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_default__-okuC\" rel=\"nofollow noopener\" target=\"_blank\">here.<\/a><\/p>\n<p>Economists polled by Reuters had forecast contracts, which become sales after a month or two, would rise 1.0% after a previously reported 4.0% advance in August. Pending home sales dropped 0.9% from a year earlier.<\/p>\n<p>Mortgage rates declined after the Federal Reserve resumed cutting interest rates. The U.S. <a data-testid=\"Link\" referrerpolicy=\"no-referrer-when-downgrade\" href=\"https:\/\/www.reuters.com\/business\/fed-in-fog-it-heads-toward-another-rate-cut-2025-10-29\/\" class=\"text-module__text__0GDob text-module__inherit-color__PhuPF text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_default__-okuC\" rel=\"nofollow noopener\" target=\"_blank\">central bank<\/a> on Wednesday lowered its benchmark overnight interest rate by another 25 basis points to the 3.75%-4.00% range.<\/p>\n<p>&#8220;Significant headwinds remain in the form of stretched affordability, still-high mortgage rates and a very weak labor market,&#8221; said Oliver Allen, senior U.S. economist at Pantheon Macroeconomics. &#8220;A serious and sustained housing market recovery is unlikely anytime soon.&#8221;<\/p>\n<p>Contracts dropped 3.4% in the Midwest and slipped 0.2% in the West. They, however, increased 1.1% in the densely populated South and jumped 3.1% in the Northeast.<\/p>\n<p>The average rate on the popular 30-year fixed-rate mortgage dropped to 6.30% at the end of September from about 6.56% in August, data from mortgage finance agency Freddie Mac showed. It has since declined to a one-year low of 6.19%.<\/p>\n<p>But lower mortgage rates have been somewhat overshadowed by growing anxiety over the labor market, with households instead taking advantage of the lower borrowing costs to refinance their mortgages. A report from the Mortgage Bankers Association (MBA) on Wednesday showed refinancing activity surged 9% last week from the prior week, while loans to purchase a home rose 5%.<\/p>\n<p>GOVERNMENT SHUTDOWN HURTING HOUSING MARKETA <a data-testid=\"Link\" referrerpolicy=\"no-referrer-when-downgrade\" href=\"https:\/\/www.reuters.com\/world\/us\/us-government-shutdown-threatens-spending-power-congress-2025-10-26\/\" class=\"text-module__text__0GDob text-module__inherit-color__PhuPF text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_default__-okuC\" rel=\"nofollow noopener\" target=\"_blank\">shutdown<\/a> of the U.S. government has delayed the release of official labor market reports and other economic data, but independent surveys have suggested lackluster conditions have persisted since the release of the employment report for August, which showed stagnation in <a data-testid=\"Link\" referrerpolicy=\"no-referrer-when-downgrade\" href=\"https:\/\/www.reuters.com\/business\/us-unemployment-rate-near-4-year-high-labor-market-hits-stall-speed-2025-09-05\/\" class=\"text-module__text__0GDob text-module__inherit-color__PhuPF text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_default__-okuC\" rel=\"nofollow noopener\" target=\"_blank\">job growth<\/a> and a rise in the jobless rate to nearly a four-year high of 4.3%.The Conference Board reported on Tuesday that the share of consumers who expected <a data-testid=\"Link\" referrerpolicy=\"no-referrer-when-downgrade\" href=\"https:\/\/www.reuters.com\/world\/us\/us-consumer-confidence-slips-october-worries-over-jobs-persist-2025-10-28\/\" class=\"text-module__text__0GDob text-module__inherit-color__PhuPF text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_default__-okuC\" rel=\"nofollow noopener\" target=\"_blank\">fewer jobs<\/a> over the next six months increased in October to the highest level since April. The proportion anticipating more jobs over that period was the lowest in six months.<\/p>\n<p>The labor market&#8217;s sluggishness largely reflects tepid business hiring, with economists saying companies were opting to absorb higher costs from import tariffs at the expense of adding headcount. Companies are also embracing artificial intelligence, undercutting demand for labor.<\/p>\n<p>Amazon.com <a data-testid=\"Link\" target=\"_blank\" referrerpolicy=\"no-referrer-when-downgrade\" href=\"https:\/\/www.reuters.com\/markets\/companies\/AMZN.O\" rel=\"noopener nofollow\" class=\"text-module__text__0GDob text-module__inherit-color__PhuPF text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_default__-okuC link-module__with-icon__qlg76\">(AMZN.O), opens new tab<\/a> this week announced big <a data-testid=\"Link\" referrerpolicy=\"no-referrer-when-downgrade\" href=\"https:\/\/www.reuters.com\/business\/world-at-work\/global-firms-slash-jobs-amid-weak-sentiment-ai-push-2025-10-29\/\" class=\"text-module__text__0GDob text-module__inherit-color__PhuPF text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_default__-okuC\" rel=\"nofollow noopener\" target=\"_blank\">job cuts<\/a> in favor of automation. Reuters has tracked more than 25,000 layoffs announced by U.S.-based companies this month.<\/p>\n<p>The government shutdown, now in its 29th day, is also pressuring the housing market. The MBA reported more than a 26% drop in applications for a mortgage assistance program run by the U.S. Department of Agriculture for low-income people. The USDA said on its website the program assists low- and very-low-income applicants to afford housing in eligible rural areas by providing short-term payment assistance.<\/p>\n<p>Insurance <a data-testid=\"Link\" referrerpolicy=\"no-referrer-when-downgrade\" href=\"https:\/\/www.reuters.com\/world\/us\/us-government-shutdown-threatens-home-sales-flood-prone-areas-report-says-2025-10-14\/\" class=\"text-module__text__0GDob text-module__inherit-color__PhuPF text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_default__-okuC\" rel=\"nofollow noopener\" target=\"_blank\">coverage<\/a> for prospective homeowners in flood-prone areas is also inaccessible during the shutdown, putting home closings at risk.<\/p>\n<p data-testid=\"SignOff\" class=\"text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__extra_small__8Buss body-module__full_width__kCIGb body-module__extra_small_body__Bfz20 sign-off-module__text__LQAMP\">Reporting by Lucia Mutikani; Editing by Paul Simao<\/p>\n<p data-testid=\"Body\" dir=\"ltr\" class=\"text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf article-body-module__element__5eCce article-body-module__trust-badge__5mS3f\">Our Standards: <a data-testid=\"Link\" target=\"_blank\" referrerpolicy=\"no-referrer-when-downgrade\" href=\"https:\/\/www.thomsonreuters.com\/en\/about-us\/trust-principles.html\" rel=\"noopener nofollow\" class=\"text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__small__sph8i link-module__link__INqxZ link-module__underline_default__-okuC link-module__with-icon__qlg76\">The Thomson Reuters Trust Principles., opens new tab<\/a><\/p>\n<p><a href=\"https:\/\/www.reutersagency.com\/en\/licensereuterscontent\/?utm_medium=rcom-article-media&amp;utm_campaign=rcom-rcp-lead\" target=\"_blank\" dir=\"ltr\" class=\"button-module__link__A3sD0 button-module__secondary__70gBu button-module__round__QDFgq button-module__w_auto__Sem-F\" data-testid=\"LicenceContentButton\" rel=\"nofollow noopener\">Purchase Licensing Rights<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Pending home sales unchanged in September Softening labor market, economic uncertainty sidelining prospective home buyers Government shutdown delaying&hellip;\n","protected":false},"author":2,"featured_media":152533,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[174],"tags":[82758,85715,85718,79,84370,88140,84149,82530,84146,82531,83115,83116,179,84148,18,32356,82503,89236,19,84143,84368,17,3503,83122,83123,89239,83002,89237,82534,82533,89238],"class_list":{"0":"post-152532","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-bisv","9":"tag-bnk","10":"tag-bsvc","11":"tag-business","12":"tag-cen","13":"tag-cofs","14":"tag-destef-markets-macromatters","15":"tag-destocabsm","16":"tag-destortao","17":"tag-destousbsm","18":"tag-eci","19":"tag-eco","20":"tag-economy","21":"tag-efmarkets-macromatters","22":"tag-eire","23":"tag-fin","24":"tag-fins","25":"tag-hosal","26":"tag-ie","27":"tag-ilei","28":"tag-int","29":"tag-ireland","30":"tag-job","31":"tag-mce","32":"tag-mplt","33":"tag-mrtapp","34":"tag-pxp","35":"tag-ream","36":"tag-topcmb","37":"tag-topnws","38":"tag-us-pendin1"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ie\/115460765383985095","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/152532","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=152532"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/152532\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/152533"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=152532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=152532"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=152532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}