National report backs up state data: Housing market in a tailspin

Pending housing sales dropped 10.2% nationally in September, according to data released by the National Association Realtors on Friday, Oct. 28.

The national data reinforced what observers and industry insiders have been seeing, sensing and saying for months, that the housing market on a roll just six months ago has ground to a crawl.

This was the fourth consecutive month that month-over-month pending sales fell. Year-over-year pending sales fell 31%.