Pending home sales drop sharply in December, dampening 2026 outlook
CNBC·2026-01-21 15:45
An "Open House" sign outside a home in Palm Beach Gardens, Florida, US, on Sunday, Jan. 11, 2026.Stagnant mortgage rates, falling housing supply and ongoing economic uncertainty weighed heavily on homebuyers in December. Pending home sales, a measure of signed contracts on existing homes, dropped 9.3% last month from November, according to the National Association of Realtors. Analysts were expecting a slight gain. Sales were 3% lower than December 2024."The housing sector is not out of the woods yet," said ...