US housing market continues to cool! September pending home sales index plunges 7.3% month-over-month; housing starts and building permits both decline.

Zhitong Finance APP has learned that as U.S. mortgage rates climbed rapidly in September, the housing market once again suffered a significant blow. The latest data show that the U.S. Pending Home Sales Index fell sharply by 7.3% month-on-month in September and by 11.3% year-on-year. At the same time, single-family housing starts and building permits both declined, reflecting that the high-interest-rate environment is simultaneously suppressing housing demand and construction activity.