Summary:
- The article discusses the continued "buyers' strike" in the U.S. housing market, with pending home sales remaining "deep in the frozen zone" despite a slight uptick from the previous month's rock-bottom levels.
- It highlights that pending home sales, which measure signed contracts for home purchases, increased by 0.2% in November 2023 compared to October, but are still down significantly from the previous year.
- The article suggests that the housing market remains in a state of stagnation, with high mortgage rates and economic uncertainty continuing to weigh on buyer demand, despite some signs of a potential slowdown in the pace of interest rate hikes.