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They’re worried about the economy going forward — and may be hoping for even lower interest rates and home prices.
Pending home sales fell more than 7% in August, according to the National Association of Realtors. While demand for homes is still high, people are having a harder time qualifying for mortgages — and that’s intensifying demand for cheaper homes.
A February rise in pending home sales likely reflects a short dip in rates earlier.
Pending housing starts are disappointing and industrial production is up. Business spending was less than expected last week.
