Pending home sales in the United States declined in December, according to data from the National Association of Realtors. This decrease occurred amid stagnant mortgage rates, a reduction in housing supply, and ongoing economic uncertainty.
Sales Figures
- Pending home sales, representing signed contracts on existing homes, dropped by 9.3% in December compared to November.
- Sales in December were 3% lower than those recorded in December 2024.
- Month-to-month sales decreased across all U.S. regions.
- Annually, sales were only higher in the South region.
Market Conditions
- Homes remained on the market for an average of 39 days in December, an increase from 35 days in December 2024.
- The average rate for a 30-year fixed mortgage was approximately 6.25% in December.
- The market presented consumers with fewer available homes for sale.
Economic Outlook
Lawrence Yun, chief economist for the National Association of Realtors, indicated that the December new contract figures have impacted the short-term outlook for the housing sector.