Pending Home Sales Rise By Largest Amount in Two Years
Pending home sales increased in January by the largest amount in two and a half years.
The National Association of Realtors announced Monday that home contract signings rose 8.1% last month.
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“Home sales activity looks to be bottoming out in the first quarter of this year, before incremental improvements will occur,” said NAR Chief Economist Lawrence Yun.
The increase in home sales last month was likely due to falling rates. As rates increased over the last two weeks, it will be interesting to see the effect on sales in February.
See other articles related to: pending home sales
This article originally published at https://dc.urbanturf.com/articles/blog/pending_home_sales_rise_by_largest_amount_in_two_years/20681.
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