Home sales

Pending sales were up 2.2% in November.

Pending home sales, a leading indicator for the existing home market, rose nearly 7.5% in September - much more than expected.

The MLS is in the news a lot. But what is it?

This week, Wayfair reported a $42 million loss and its CEO compared the drop in demand to the one seen in the last financial crisis.

Some sellers who have delayed putting their homes on the market are now doing so, but inventory is still lower than normal.

But not because it's easier to buy.

When you take mortgage rates, housing prices and incomes into account, homes are 44% less affordable than they were two years ago.

When people buy new homes, they buy a lot of other things too, like furniture, appliances and electronics. When home buying slows, that can have a real ripple effect on other industries.

The number of pending sales is down from last year, but homes are still selling quickly.

Mortgage rates are up. Realtors are being laid off.