The National Association of Realtors is reporting that pending home sales were down 3.8% in December, 2021. The NAR's Pending Home Sales Index (a forward-looking indicator based on contract signings) dropped to 117.7. However, the NAR says that, overall 2021 was a great period for housing in terms of sales & price appreciation. Indeed...
"Pending home sales faded toward the end of 2021, as a diminished housing supply offered consumers very few options...Mortgage rates have climbed steadily the last several weeks, which unfortunately will ultimately push aside marginal buyers." Said Lawrence Yun, NAR's chief economist.
Click here to read the full report at the National Association of Realtors.
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