NAR US Pending Home Sales Data Reveals 9.3% Drop in December

December Sees Significant Drop in Pending Home Sales

According to the latest data from the National Association of REALTORS®, the number of homes under contract in December fell by 9.3% compared to the previous month and was down 3.0% from the same period last year. This report offers valuable insights for real estate professionals, buyers, and sellers by tracking homes that are in the process of being sold but have not yet closed.

All four major regions experienced a month-to-month decline in pending home sales. On a yearly basis, the South was the only region to see an increase, while the Northeast, Midwest, and West all reported decreases.

Lawrence Yun, Chief Economist at NAR, commented, “The housing market continues to face challenges and has not yet fully recovered.”