Skip to content

US pending home sales climbed 5.2% in January

nybz496-218_2020_234921

WASHINGTON — There was a 5.2% jump in Americans signing contracts to buy homes in January from the previous month as lower mortgage rates and a solid economy are pushing up demand for housing.

The National Association of Realtors said Thursday that its index of pending sales climbed to 108.8 last month. These contract signings — a barometer of finalized purchases over the next two months — have risen 5.7% over the past year.

Homebuyers have benefited from a steady drop over the past year in the average interest charged on a 30-year mortgage. This has improved affordability for buyers with sufficient savings. But sales growth might also be restricted by a historically low inventory of homes for sales and prices that climbing faster than wages.

Josh Boak, The Associated Press

push icon
Be the first to read breaking stories. Enable push notifications on your device. Disable anytime.
No thanks