According to the National Real Estate Association, existing signing agreements on existing houses decreased by 5.5 % from the previous month in December, decreasing by 5 % from the previous year.
Following the decline for four consecutive months, the index since August was the lowest level.
These so -called pending sales are indicators of future closure and the latest indicators of market activities. The buyer who was shopping in December faced a large jumping of mortgage interest rates.
The average rate of fixed mortgages in 30 years was high from 6.68 % on December 6 to 7.14 % on December 19. At the rate, the 7 % mark seems to be an emotional barrier for buyers.
According to a US census, the sales of newly built houses, based on the signed contract, had earned a profit in December, but housing builders take their customers to the door. I am actively purchasing the price.
Sales in pending decrease in all areas, and the west and northeast are 8.1 %, respectively, 10.3 %, the maximum monthly decline. These areas are the highest housing prices.
“The contract activities have dropped sharply in expensive areas in northeast and west, which significantly reduced the price of mortgages,” said Lawrence Yoon, a real estate agent, Lawrence Yoon. “The interests of employment tend to have a significant impact in a more affordable area. It is unknown whether the winter rainfall has affected the timing of the purchase.”
The price is still stubborn and rises nationwide. According to the latest reading of S & P Case Shiller National Home Prich Index, the annual increase has accelerated in late autumn and early winter.
The demand for buying a house does not seem to have bounced at all in January. According to the Mortgage Banking Association, a mortgage application for purchasing a house last week was 7 % lower than the same week a year ago.
Redfin’s new report is sold at the slowest speed in five years. As of the four weeks ending on January 26, the typical housing list that signed a contract was the longest span since March 2020, and 54 before accepting an offer one week longer than last year. I was sitting in the market before the day.
Sales of houses on sale are ultimately increasing, resulting in weaknesses. According to Realtor.com, the number of newly listed houses exceeded 37 % in December compared to December.
“Changes in the seller’s activity may mark the turning point of the stand -off due to the mortgage rate between the buyer and the seller,” said Realtor.com’s chief economist, Daniel Hale. “The rise may be due to the remaining profits from the decrease in the falling mortgage rate in autumn.”
