- Prior month +2.0% (revised to +1.8%)
Details
- Home sales index 79.0 versus 77.4 last month (revised to 77.3)
- Sales 6.9% vs 5.4% year on year prior
This is the fourth-consecutive month of increases and buyers give up waiting for lower rates. In December though, US 30-year fixed rates rose above 7% and that's been a big problem in the past.
“Consumers appeared to have recalibrated expectations regarding mortgage rates and are taking advantage of more available inventory,” said NAR Chief Economist Lawrence Yun. “Mortgage rates have averaged above 6% for the past 24 months. Buyers are no longer waiting for or expecting mortgage rates to fall substantially."
