From GlobeNewswire: 2025-02-27 10:00:00

Pending home sales dropped 4.6% in January, with the Midwest, South, and West experiencing losses while the Northeast saw a slight increase. Year-over-year, contract signings decreased in all U.S. regions, with the South showing the largest decline. The National Association of Realtors reported that the Pending Home Sales Index fell to 70.6 in January, an all-time low, with pending transactions down 5.2% year-over-year. Housing affordability suffered as mortgage rates ranged from 6.91% to 7.04%, causing monthly mortgage payments on a $300,000 home to increase by $50 compared to last year. Regional breakdowns showed declines in all regions, with the South experiencing the largest drop at 9.2%. Chief Economist Lawrence Yun noted that even a slight reduction in mortgage rates could spark buyer interest.



Read more at GlobeNewswire: Pending Home Sales Waned 4.6% in January