US pending home sales fall in January as high mortgage rates deter buyers

Pending U.S. home sales retreated in January, a report on Thursday showed, as buyers continue to struggle with still-high mortgage rates. The National Association of Realtors Pending Home Sales index fell 4.9% to 74.3. The increase in pending sales in December was revised sharply lower to 5.7% from 8.3%, even as the index value for that month was revised higher, reflecting NAR revisions for 2023.

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