The National Association of Realtors is reporting that pending home sales were down 5.7% in January, 2022. The NAR’s Pending Home Sales Index (a forward-looking indicator based on contract signings) dropped to 109.5. With inventory still a problem, the NAR warns that a retreat in demand might be on the horizon. Indeed…
“With inventory at an all-time low, buyers are still having a difficult time finding a home…Given the situation in the market – mortgages, home costs and inventory – it would not be surprising to see a retreat in housing demand” Said Lawrence Yun, NAR’s chief economist.
Click here to read the full report at the National Association of Realtors.
