Pending home sales sees improvement second time in a row
(NBC, KYMA/KECY) - Pending home sales improved in January for the second consecutive month, according to the National Association of Realtors.
All four U.S. regions saw monthly gains, but year-over-year drops in transactions with promising numbers on the horizon.
The National Association of Realtors anticipates the economy to continue to add jobs throughout 2023 and 2024.
This means that the 30-year fixed mortgage rate could steadily drop to an average of 6.1% in 2023 and then to 5.4% in 2024.
The association also projects new home sales to fall by 3.7% this year, before growing 19.4% in 2024.