Pending Home Sales Fell in September. Have Buyers Had It With High Prices?

There's a reason buyers have clamored to purchase homes since summertime: Mortgage rates have fallen to historic lows, and borrowers want to capitalize on those great opportunities. There's been a major shortage of homes on the market since the coronavirus pandemic kicked into gear, and that's driven home prices up -- so much so that many buyers found themselves having to outbid others to snag the limited inventory available these past months.