Home sales in January fall to the level of the record level

In January, high mortgage rates and rising home prices are combined to crush home sales.

According to contracts based on the agreements signed for existing houses, in 2001, the National Association began to watch this metric. These sales are an indicator of future closing.

“If the coldest in 25 years contribute to the least recipients in January, and if it is, we expect more sales activities in the upcoming months,” said Lourns Yun, Pomegranate Chief Economist. “However, it is clear that it is affordable to erect home prices and higher mortgage rates.”

The weather may be a factor, and in the northeast, and fell to the west, which will see the smallest effects of cold temperatures. Sales fell to the south in recent years, which is the most active region for home sales.

In January, the mortgage rate was also high. The average 30-year-old loan rate was reduced to 7% of December 7%, and then began to rise. According to daily mortgage, it was above 7% for January.

Home prices are higher in certain areas, reducing prices for the past few months, but are higher than a year before.

This drop in the sale, inventory of houses for sale in January, including homes, but still rose 17% compared to the houses sold, increased by 17% compared to a series of annual grounds.

“The more sold inventory has the potential to sign more contract, but climbing home supplies is not equally distributed in the United States,” said many areas of high demand, the relatively low inventory, which is higher in sales. “