Reported about 7 hours ago
Pending home sales in the US fell to the lowest level on record in January, primarily due to severe winter weather and high mortgage rates that deterred buyers. The National Association of Realtors reported a 4.6% decline in contract signings for previously owned homes, the most significant drop since the COVID-19 pandemic began. The South experienced the largest decrease at 9.2%, while national home prices continued to rise, exacerbating affordability issues for potential buyers.
Source: YAHOO