The Pending Home Sales Index (PHSI), which tracks home sales based on contract signings, dropped 4.6 percent to 70.6 in January, marking an all-time low, while pending transactions fell 5.2 percent year over year.
Category: pending home sales
Rising rates and home prices stifle January market: Redfin
The Federal Reserve’s policy shift depressed homebuyer and homeseller activity in January, according to Redfin. Monthly new and active listing growth dropped to the lowest levels since last summer.
Pending home sales fall to lowest level since 2015, new data shows
Pending home sales dropped 32 percent annually during the four-week period ending Jan. 1, with the biggest drop-offs recorded in markets that took off during the pandemic, according to Redfin.