America is Open Again. Is Your Business Ready? Click Here Now!

US pending home sales climbed 5.2% in January


US pending home sales climbed 5.2% in January
This Feb. 18, 2020, photo shows a sale pending real estate sign in front of homes in San Francisco. On Thursday, Feb. 27, the National Association of Realtors releases its January report on pending home sales, which are seen as a barometer of future purchases. (AP Photo/Jeff Chiu)

WASHINGTON (AP) — 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.

On-Air & Up next

  • The Captain’s AMERICA - Third Watch
     
    Captain Matt Bruce is a conservative, independent American voice for freedom emanating from the Tampa Bay area. A veteran soldier and fire-fighter, the Captain approaches news and   >>
     
  • Hugh Hewitt
    6:00AM - 9:00AM
     
  • Mike Gallagher
    9:00AM - 12:00PM
     
  • Dennis Prager
    12:00PM - 3:00PM
     
  • America First
    3:00PM - 6:00PM
     

See the Full Program Guide