Pending home sales dropped 5.5% in December, with the largest decline in the West region.

From GlobeNewswire: 2025-01-30 10:00:00

Pending home sales across all four U.S. regions dropped 5.5% in December, with the West region experiencing the largest decline. Year-over-year, contract signings also decreased in all regions, with the Midwest showing the biggest reduction. The Pending Home Sales Index (PHSI) fell 5.5% to 74.2 in December, with a 5.0% year-over-year decline. Lawrence Yun, NAR Chief Economist, noted that high mortgage rates have not significantly affected housing demand. The Northeast, Midwest, South, and West regions all saw decreases in pending home sales, with the West region experiencing the steepest drop of 10.3%.



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