US Pending Home Sales Fell 7.1% In August, Near Record Low (Down 11% YoY Under Bidenomics As Mortgage Rates Highest Since 2000)

Bidenomics benefits the top 1% but is detrimental for the middle class. In August 2023, pending home sales plummeted 7.1%, affecting all U.S. regions both monthly and annually. Rising mortgage rates have deterred buyers, causing an 11% drop in transactions from the previous year.