January, which exposes sales with homes to the lowest level of the record level

High mortgage lenses and increased real estate prices combine in January to turn the turnover from homes to CrossH Home.

From the signed contracts for existing houses, sales have decreased by 4.6% from December since the National Association of Realors followed this metrics in 2001. The turnover decreased by 5.2% from January 2024. These sales are an indicator of future closures.

“It is unclear whether the coldest January has contributed to fewer buyers on the market for 25 years, and if so, they expect higher sales activity in the coming months,” said Lawrence Yun, the chief economist from NAR. “However, it is obvious that increased real estate prices and higher mortgage lenses put affordable.”

While the weather may have been a factor, sales in the northeast rose from month to month and fell in the west, which would have recorded the smallest influence of the cold temperatures. Sales fell hardest in the south, which has been the most active region for the sale of homes in recent years.

The mortgage interests were also higher in January. The average interest rate for the popular 30-year-old loan spent below 7%in the first half of December, but increased. According to Mortgage News Daily, it was solid over 7%for the entire January.

Real estate prices have loosened in certain areas in the past few months, with more sellers reducing prices, but they are still nationally higher than a year ago.

This decline in sales also came despite the fact that the sales stock in January in January, including houses that were not yet sold, increased by 17% compared to the previous year and, according to Realor.com, increased annually for the 14th month in a row.

“The potential to generate more contractual directories for the sales stock, but climbing home is not distributed evenly in the United States,” said Danielle Hale, chief economist from Realtor.com. “In addition, in many areas with high demand, there are a relatively low inventory, which limits progress in sales with more homes.”