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VOL. 44 | NO. 8 | Friday, February 21, 2020

US pending home sales climbed 5.2% in January

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WASHINGTON (AP) — There was a 5.2% jump in Americans signing contracts to buy homes in January from the previous month as lower mortgage rates and a solid economy are pushing up demand for housing.

The National Association of Realtors said Thursday that its index of pending sales climbed to 108.8 last month. These contract signings — a barometer of finalized purchases over the next two months — have risen 5.7% over the past year.

Homebuyers have benefited from a steady drop over the past year in the average interest charged on a 30-year mortgage. This has improved affordability for buyers with sufficient savings. But sales growth might also be restricted by a historically low inventory of homes for sales and prices that climbing faster than wages.

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TNLedger.com Knoxville Editon
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0