Compass co-founder and CEO Robert Refkin launched the sale of the current house in January on ‘The Claiman Countdown’.
Contract to buy Earlier owned houses A record in January decreased as potential buyers were forced by high mortgage rates and home prices.
The National Association of Realters (NAR) said on Thursday that its pending house sales index, based on signed contracts, declined by 4.6% last month, which declined 70.6, one all time last month.
Economists voted by Reuters had an forecast of contracts, which is sold after one or two months in January, falling 1.3% in January. Pending house sales 5.2% below a year ago.
NAR Chief Economist Lawrence Yun said, “It is not clear that the coldest January in 25 years contributed to low buyers in the market, and if so, more sales activity is expected in the coming months,” said NAR Chief Economist Lawrence. “However, it is clear that house prices and high mortgage have increased.”
Mortgage rates fall for the fifth week in a row, hover near 7%
The National Association of Realtors report states that house sales are pending in January. (Joe Redal / Getty Images / Getty Images)
Mortgage rates In January, from 6.91% to 7.04% and NAR mentioned that compared to a year ago, monthly mortgage payment at home of $ 300,000 increased from additional $ 50 to $ 1,590. The mortgage rates have declined by about 6.85%in February.
The number of contracts signed in midwests, south and west fell across the country, but slightly increased in the Northeast.
“Even the possibility of slight decrease in hostage rates will ignite the buyer, looking at the rising income, increased jobs and more inventory options,” said.
Existing house sales falls to lowest levels in about 30 years
Except for the Northeast, the sale of homes pending in all regions of the country declined. (David Paul Morris / Bloomberg Getty Image / Getty Image)
The mortgage rates also remain high federal Reserve Cut its benchmark interest rate into 100 basis points since September.
The central bank has stopped rate cuts in January, while it weighs the effects of the policies of Trump administration on inflation, as tariffs, tax cuts and masses. Exile of illegal immigrants Potentially seen as inflation by economists.
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Horticulture rates track the yield on a 10-year-old Treasury note, which has fallen between soft economic data in recent times. However, Concern about inflation Probably will limit the scope of decline, while the expectations of consumers’ inflation have increased on apprehensions that tariffs will increase the price of goods.
Reuters contributed to this report.
