Redfin says U.S. pending home sales up 12.1% in four weeks ending Nov. 24

U.S. pending home sales rose 12.1% year over year during the four weeks ending November 24, the biggest increase since May 2021, according to a new report from Redfin (RDFN). “One reason for the outsized increase is that early-stage homebuying demand, including home tours, boomed in the two weeks following the presidential election. But another notable reason is that Redfin is comparing it to a period in 2023 that included Thanksgiving, a time of year when home sales are typically very slow. Redfin will know in the next few weeks whether the increase in pending sales is a Thanksgiving mirage or a sign of sustained strength in the housing market,” Redfin stated.