Pending home sales rise 1.9% in October

Market Trends - Pending home sales in October increased by 1.9% compared to September, exceeding expectations [1] - However, pending home sales were down 4% compared to October of the previous year [1] - The increase in sales may be attributed to falling mortgage rates in October, but rates rose again in November [2] - Housing supply remains relatively stagnant month-to-month and is currently weakening [2] Regional Analysis - Sales increased on a monthly basis in all regions except the West, which experienced a slight decrease [3] - The West is the most expensive region in the country [3] Seller Behavior - Nearly 85,000 US sellers removed their homes from the market in September, a 28% increase from the previous year and the highest level in eight years for that month [4] - Consumer sentiment may be influencing sellers' decisions to delist their properties [4]