Existing Home Sales Drop 8.4% to 3.91MM in January as Mortgage Rates Hover Near 6.1%

The Real Reason Home Sales Slowed in January. And It’s Not What You Think.

If you saw headlines that talked about how “home sales fell sharply in January,” it probably raised an eyebrow – especially if you’re thinking about selling your house. But context matters.

Existing Home Sales Drop 8.4% to 3.91MM in January as Mortgage Rates Hover Near 6.1%

Wells Fargo Economics says weather disruptions and lingering affordability pressures restrained early-year activity Housing market momentum cooled to start the year, as a combination of winter storms and persistent affordability constraints weighed on buyer activity. A new analysis from Wells Fargo Economics shows existing home sales fell 8.4 percent in January to a seasonally adjusted annual rate of 3.91 million units, reversing some of the mod…

Existing home sales fall 4.4% in January

Sales also declined 8.4% from December, according to National Association of Realtors WASHINGTON — Existing home sales declined in all major regional markets in January compared with January of 2024. They also declined in all regions compared with December, according to recently released data from the National Association of Realtors. Year-over-year sales decreased 4.4% to 3.91 million in January and also declined 8.4% compared with December, th…