US Pending Home Sales Surge 8.1%, Most Since June 2020
- Contract signings rose in all four regions, led by West, South
- Even with January increase, sales still down 22.4% from 2022
A "sale pending" sign in front of a home in San Rafael, California.
Photographer: Justin Sullivan/Getty ImagesThis article is for subscribers only.
US pending home sales rose by the most since June 2020, potentially a temporary reprieve as lower mortgage rates in the month helped prop up demand.
The National Association of Realtors’ index of contract signings to purchase previously owned homes increased 8.1% in January from a month earlier to 82.5, according to data released Monday. The jump beat all estimates in a Bloomberg survey of economists, which called for a 1% advance.