Quantity of signed contracts for purchase of secondary housing in the US unexpectedly fell by the most since January to the lowest level since the middle of 2014 amid accumulating signs that housing markets of the country is experiencing problems, Bloomberg reports.

Index of pending sales fell by 2,6% in October after growth by 0,7% in previous month. This does not correspond with estimates of economists surveyed by Bloomberg, which forecasted growth by 0,5%. Index fell by 4,6% compared with the last year.

Elevated prices and rising mortgage rates still hold Americans from buying houses. Economists think that pending sales index is a good indicator as it records signed contracts.

Index fell in three out of four regions, West is leading with 8,9% drop. Quantity of contract grew in Northeast by 0,7%.