Pending home sales hit lowest point in 2 decades, per NAR

Pending home sales hit its lowest point in two decades, per the latest National Association of Realtors figures.

The association said sales dropped by about 5% in December 2024 and were down again in January by over 5%, making them the lowest they've been since 2001. The association only started recording numbers in 2001.

Economists said fewer people buy homes when the weather is the coldest and mortgage rates are high. However, some said the trend won't last forever and that sales should increase over the next few months.