Contract closings slipped 2 per cent to an annualised rate of 3.98 million in August, as would-be buyers wait for relief on mortgage rates.

US new home listings climbed 2.1% to their highest level since August 2022, but pending sales fell as mortgage rates near 6.66% push

Home sales slowed again despite the highest supply of homes for sale in over a decade. Prices, however, continue to rise.