Pending Home Sales Decrease 5.7% in January

Pending Home Sales Decrease 5.7% in January. The excerpt from California Association of Realtors, below shows inventory continues to drop. Enjoy the read and the link will provide more info. ~~JaCi Wallace

“California Association of Realtors, abreviation, “CAR.” (February 25, 2022) – Pending home sales slumped in January, continuing what is now a three-month drop in transactions, the National Association of Realtors® reported. Of the four major U.S. regions, only the West registered an increase in month-over-month contract activity. All four regions posted a decline in year-over-year activity.

The Pending Home Sales Index (PHSI),* www.nar.realtor/pending-home-sales, a forward-looking indicator of home sales based on contract signings, fell 5.7% to 109.5 in January. Year-over-year, transactions decreased 9.5%. An index of 100 is equal to the level of contract activity in 2001.” CAR

“With inventory at an all-time low, buyers are still having a difficult time finding a home,” said Lawrence Yun, NAR’s chief economist.”

If you would like to discuss why pending home sales decrease 5.7% in January or any other real estate questions, please give us a call at 916-233-6759.

JaCi Wallace RE/MAX Gold

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