Pending home sales sees improvement second time in a row

February 28, 2023 6:31 AM

Published February 28, 2023 6:47 AM

(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.

Article Topic Follows: National-World

If you have any story ideas, reach out to him at dillon.fuhrman@kecytv.com.

BE PART OF THE CONVERSATION

KYMA KECY is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.