Key Insights
- Pending Home Sales easily beat analyst expectations, supported by falling mortgage rates.
- Existing home sales are projected to grow at a robust pace in 2024 and 2025.
- The National Association of Realtors expects that the 30-year fixed mortgage rate will be in the 6% – 7% range for most of 2024.
On January 26, the National Association of Realtors released Pending Home Sales report for December. The report indicated that Pending Home Sales increased by 8.3% on a month-over-month basis, compared to analyst consensus of +1.5%.
On a year-over-year basis, Pending Home Sales increased by 1.3%, while analysts expected that they would drop by 3.4%.
The National Association of Realtors forecasts a 13% increase in existing home sales in 2024 and…
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