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U.S. homebuyer demand is now weaker than during the 2008 housing crash. NAR's pending home sales index hit 71.2 in August, below any reading from 2008 to 2011. Contract signings are down roughly 45% from the 2020 peak and about 30% below pre-pandemic levels. Mortgage rates are the problem: signings peaked in 2021 when rates were near 3%. Nationally, contract signings today are running roughly 30% below where they were in the years leading up to the pandemic. Read more: https://t.co/jzfcpWMCqo