The National Association of Realtors (NAR) released its pending home sales figures for the U.S. on Monday. Pending home sales in the U.S. slid 2.5% in January, missing expectations for a 0.5% gain, after a 0.9% increase in December. December's figure was revised up from a 0.1% rise.
The fall was mainly lead by declines in almost all regions. Only pending home sales in the South rose in January.
"While January's blizzard possibly caused some of the pullback in the Northeast, the recent acceleration in home prices and minimal inventory throughout the country appears to be the primary obstacle holding back would-be buyers," the NAR's chief economist Lawrence Yun said.
"Additionally, some buyers could be waiting for a hike in listings come springtime," he added.
|remaining time till the new event being published|
All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.