The National Association of Realtors is reporting that overall pending home sales increased 4.6% in January, with all four major regions of the country seeing growth. The NAR’s Pending Home Sales Index (a forward-looking indicator based on contract signings) declined to 103.2 in January. However, they also report that year-over-year contract signings declined 2.3%, marking the thirteenth straight month of annual decreases.
“Homebuyers are now returning and taking advantage of lower interest rates, while a boost in inventory is also providing more choices for consumers.” Said Lawrence Yun, the NAR’s chief economist.
Click here to read the full release at the National Association of Realtors.
