NAR released a summary of pending home sales data showing that January’s pending home sales pace increased 8.1% last month but fell 24.1% from a year ago.
From last month, all four regions showed inclines in contract signings. The West region had the largest gain of 10.1%, followed by the South with an increase of 8.3%. The Midwest rose 6.5%, followed by the South with an incline of 6.0%.
All four regions showed double-digit declines from a year ago. The West had the largest dip of 29.3%, followed by the South with a drop-in contract signings of 24.7%. The Midwest fell 21.1%, followed by the Northeast, with the smallest decline of 19.8%.