Contract Signings Surge, But They Could Be Even Higher

Real estate pros are having a busy winter, and with buyer demand high, it could be even busier if it wasn’t for a lack of inventory continuing to plague many markets. Pending home sales rebounded in January, rising 5.2% month over month, the National Association of REALTORS® reported Thursday. Contract signings are up 5.7% over year-ago levels.
“This month’s solid activity—the second-highest monthly figure in over two years—is due to the good economic backdrop and exceptionally low mortgage rates,” says Lawrence Yun, NAR’s chief economist. “We are still lacking in inventory. Inventory availability will be the key to consistent future gains.”
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