US Pending Home Sales Rise 0.3% in August, Miss 0.5% Consensus

US pending home sales rose 0.3% in August to 71.2, below the 0.5% consensus, after a 2.3% decline in July. Year-over-year sales are down 4.7%, indicating persistent housing market weakness despite a slight monthly uptick. The miss suggests that elevated mortgage rates continue to weigh on housing demand, reinforcing a subdued growth outlook.