Pending home sales slowed modestly in August but contract signings remain at their second-highest level over the past year, according to the National Association of Realtors (NAR). “Fewer distressed homes at bargain prices and the acknowledgement we’re entering a rising interest rate environment likely caused hesitation among investors last month,” Yun said. “With investors pulling back, the market is shifting more towards traditional and first-time buyers who rely on mortgages to purchase a home.”

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