Pending home sales ended 2022 on a positive note. After six consecutive months of declines, the Pending Home Sales Index rose 2.5% month over month in December to a reading of 76.9, according to data released Friday by the National Association of Realtors (NAR).
“This recent low point in home sales activity is likely over,” Lawrence Yun, NAR’s chief economist, said in a statement. “Mortgage rates are the dominant factor driving home sales, and recent declines in rates are clearly helping to stabilize the market.”
Despite the monthly increase, pending home details ⇒
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