Sales in January picked up where the fourth quarter left off. Sales for the month were down 17%. This isn’t too surprising since most of January’s closings came as a result of contracts written in December and the market was definitely slow in December.
During January the number of listings that are went under contract on a weekly basis (see slide #5 not including the title slide) definitely picked up but are still below previous years. Interest rates seem to have stabilized for the moment below 5% and the stock market is rebounding, both of which will help buyers as they consider buying a home.
