🚨Pending Home Sales crash to the lowest level in history US pending home sales fell 7.3% in September to a record low of 66.0, dropping below the levels of the 2008 financial crisis and the COVID pandemic. Over 1.6 million homes remain without buyers as US housing inventory hits its highest level in 7 years. US housing affordability is near its lowest level in 40 years as mortgage rates hit 7.61% in early October. US home sellers outnumber buyers by 63% marking the widest gap in over a decade. The US housing market is facing a historic demand freeze due to high borrowing costs and elevated home prices.