Pending home sales drop 4.7 percent in January

• February 28, 2018
• realestate
• Announcements, Business & Markets, Real Estate, Real Estate Finance, Your Real Estate Life

The housing recovery appears to be making a U-turn as mortgage rates rise amid a critically low supply of homes for sale.

Pending home sales, which measure signed contracts, not closings, fell 4.7 percent in January compared to December, according to the National Association of Realtors.

The weakness was nationwide, and December’s reading was also revised lower.