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Pending Home Sales January Of 2024

By
Industry Observer CDRE #01044712

On February 29, 2024, National Association of Realtors® (NAR) reported that nationwide pending contract signed home sales down 4.9% to an index of 74.3 in January of 2024 from December of 2023, and dropped 8.8% from January of 2023.

Pending home sales index in the Northeast higher 0.8% to an index of 63.6 in January of 2024 from December 2023, but lower 5.5% from January of 2023.

Pending home sales index in the Midwest fell 7.6% to an index of 73.7 in January of 2024 from December 2023, and decreased 11.6% from January of 2023.

Pending home sales index in the South declined 7.3% to an index of 88.5 in January of 2024 from December 2023, and dropped 9.0% from January of 2023.

Pending home sales index in the West increased 0.5% to an index of 61.1 in January of 2024 from December 2023, but down 7.0% from January of 2023.

Lawrence Yun, NAR chief economist, stated "This combination of economic conditions is favorable for home buying. However, consumers are showing extra sensitivity to changes in mortgage rates in the current cycle, and that's impacting home sales."

Fore complete information, on National Association of Realtors's January of 2024 pending home sales report, please click HERE

Posted by

John Pusa

Better way to buy and sell real estate

Office (818) 441-8881

Mobile (818) 441-8881

Comments (10)

Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

I am surprised John Pusa . From all I've read here I thought the market was on fire and multiple offers were the norm today.

Feb 29, 2024 07:01 PM
John Pusa
Glendale, CA

Hello Bob "RealMan" Timm you are right, from all we read here you thought the market was on fire and multiple offers were the norm today. Thanks for the comment.

Feb 29, 2024 08:50 PM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I am glad that you keep up with the stats since I don't do that myself and I enjoy seeing them!

Mar 01, 2024 05:44 AM
John Pusa
Glendale, CA

Hello Brian England thank you, I am glad to know you find the stats very helpful and you enjoy seeing them. Thanks for the comment.

Mar 01, 2024 04:36 PM
Roy Kelley
Retired - Gaithersburg, MD

Good Sunday morning, John.

Have a great day and a very productive week.

Mar 03, 2024 07:31 AM
John Pusa
Glendale, CA

Good Sunday morning to you too Roy Kelley. Thank you, have a great day and a very productive week too. Thanks for the comment.

Mar 03, 2024 10:08 AM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Had to smile at Bob "RealMan" Timm  comment, if there is no inventory it is hard to have pending's in the market, Endre

Mar 04, 2024 10:53 PM
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

Thanks for the mention Endre Barath, Jr. I know we are always supposed to have a positive spin on our industry but when nearly everyone on AR sings that song of short inventory and multiple offers it can be depressing to the rest (majority) of us who have never seen such a market. 

Mar 05, 2024 06:39 AM
John Pusa
Glendale, CA

Hello Endre Barath, Jr. very true, Bob "RealMan" Timm had a good comment, if there is no inventory it is hard to have pending's in the market. Thanks for the comment.

Mar 05, 2024 07:10 AM
John Pusa
Glendale, CA

Hello Bob "RealMan" Timm you are right, we are always supposed to have a positive spin on our industry but when nearly everyone sings that song of short inventory and multiple offers it can be depressing to the rest (majority) of us who have never seen such a market. Thanks for the comment.

Mar 05, 2024 07:12 AM