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    Home » US Pending Home Sales Plunge to Nine-Month Low in January
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    US Pending Home Sales Plunge to Nine-Month Low in January

    February 25, 20221 Min Read
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    The number of houses going under contract in the US dropped in January for the third straight month to the lowest level since April 2021.

    • The pending home sales index plummeted 5.7% to 109.5 in January compared with the prior month. Pending home sales were 9.5% below the level post the same month a year earlier.
    • Lawrence Yun, NAR’s chief economist stated that it would not be surprising to see a bounce back in housing demand, further noting buyers are struggling with a number of market issues like rising interest rates and surging home prices.
    • Pending home sales rose only in the West Region of the US by 1.5%.

    Transactions fell the most in the Northeast region by 12.1% followed by South and Midwest with monthly decreases of 6.3% and 5.9%, respectively.

    DXY down -0.34%, EUR USD up +0.47%

    Source: National Association of Realtors.

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