{"id":1245,"date":"2026-10-21T05:44:29","date_gmt":"2026-10-21T15:44:29","guid":{"rendered":"https:\/\/oahure.com\/oahu-real-estate\/?p=1245"},"modified":"2026-10-21T05:45:01","modified_gmt":"2026-10-21T15:45:01","slug":"pending-home-sales-plunge-to-record-low-worse-than-the-financial-crisis-or-2020-pandemic-lockdowns","status":"publish","type":"post","link":"https:\/\/oahure.com\/oahu-real-estate\/pending-home-sales-plunge-to-record-low-worse-than-the-financial-crisis-or-2020-pandemic-lockdowns\/","title":{"rendered":"Pending Home Sales Plunge to Record Low \u2014 Worse Than the Financial Crisis or 2020 Pandemic Lockdowns"},"content":{"rendered":"\n

The U.S. housing market has frozen harder than at any point in modern history.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

On October 20, the National Association of Realtors reported that its Pending Home Sales Index crashed 7.3% in September to 66.0. That is the lowest reading since the index began in 2001 \u2014 lower than during the global financial crisis and lower than when the entire country was locked down for the pandemic.<\/p>\n\n\n\n

Contract signings are also down 11.3% from a year earlier. Every region declined, with the West falling the hardest. This is not a normal seasonal slowdown. It is a deeper freeze than the one already visible in earlier data, and it arrived faster and sharper than most forecasts expected.<\/p>\n\n\n\n

On Oahu the same pressure is already showing up in the numbers. Pending sales are down year-to-date, and the most recent weeks have been even weaker. Closed sales still largely reflect contracts written weeks ago, so the full drop in new activity has not yet appeared in the closed figures. Homes are taking longer to sell, and the window for multiple offers has narrowed sharply.<\/p>\n\n\n\n

Sellers who are priced to current conditions and willing to take serious offers are better positioned than those waiting for a rebound the data does not currently support. Buyers who remain in the market have more leverage than they did a year or two ago. The next several months will determine how much of this contract collapse translates into lower closed volume and, eventually, softer prices.<\/p>\n\n\n\n

For now, the message from the national index is unambiguous: the market is frozen more than falling, and the freeze just reached a new extreme.<\/p>\n","protected":false},"excerpt":{"rendered":"

The U.S. housing market has frozen harder than at any point in modern history. On October 20, the National Association of Realtors reported that its Pending Home Sales Index crashed 7.3% in September to 66.0. That is the lowest reading since the index began in 2001 \u2014 lower than during the global financial crisis and … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1245","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/oahure.com\/oahu-real-estate\/wp-json\/wp\/v2\/posts\/1245","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/oahure.com\/oahu-real-estate\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/oahure.com\/oahu-real-estate\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/oahure.com\/oahu-real-estate\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/oahure.com\/oahu-real-estate\/wp-json\/wp\/v2\/comments?post=1245"}],"version-history":[{"count":2,"href":"https:\/\/oahure.com\/oahu-real-estate\/wp-json\/wp\/v2\/posts\/1245\/revisions"}],"predecessor-version":[{"id":1248,"href":"https:\/\/oahure.com\/oahu-real-estate\/wp-json\/wp\/v2\/posts\/1245\/revisions\/1248"}],"wp:attachment":[{"href":"https:\/\/oahure.com\/oahu-real-estate\/wp-json\/wp\/v2\/media?parent=1245"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/oahure.com\/oahu-real-estate\/wp-json\/wp\/v2\/categories?post=1245"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/oahure.com\/oahu-real-estate\/wp-json\/wp\/v2\/tags?post=1245"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}