US August Pending Home Sales Rose 0.3% Month-Over-Month, Beating Forecasts for a Decline

US pending home sales rose 0.3% in August from the prior month, defying economist expectations for a 0.1% decline, according to data released September 17. The modest gain marks a reversal from the previous month's drop and offers a small sign of resilience in a housing market that has otherwise been weighed down by persistently high mortgage rates.

Despite the monthly beat, analysts and wire reports noted that the broader trend remains weak. High borrowing costs and elevated asking prices continue to suppress buyer activity, and year-over-year comparisons for pending sales have been negative in recent months. The August figure does not signal a sustained recovery but rather a slight pause in the market's slide.