Reported about 7 hours ago
In January, home contract signings fell to an all-time low, driven by cold weather and high mortgage rates, with a 4.6% decline in the National Association of Realtors' Pending Home Sales Index, reaching 70.6. Pending sales dropped across most regions, except for a slight increase in the Northeast. The South experienced the most significant decrease of 9.2%. Cold temperatures and limited inventory, alongside rising home prices and mortgage rates at 6.9% to 7%, contributed to the subdued buyer activity.
Source: YAHOO