US Home Resales Fall Most in Four Years Despite Lower Rates

[lostincalifornia]

Sales of previously owned US homes fell in January by the most in nearly four years, a month marked by historically cold temperatures and a massive winter storm.

Contract closings decreased 8.4% to a 3.91 million annualized pace in January, according to National Association of Realtors data released Thursday. That was below the median forecast of economists surveyed by Bloomberg.

An extensive winter storm in late January that blanketed much of the US with snow and ice may have delayed many contract closings. In the hard-hit South, the nation’s biggest home-selling region, sales slumped 9% to an annualized pace of 1.81 million. Closings also fell sharply in the rest of the country.

“The below-normal temperatures and above-normal precipitation this January make it harder than usual to assess the underlying driver of the decrease and determine if this month’s numbers are an aberration,” NAR Chief Economist Lawrence Yun said in a statement.

https://www.bloomberg.com/news/articles/2026-02-12/us-home-resales-fall-most-in-four-years-despite-lower-rates?srnd=homepage-americas

[Walleye]

1. Kamala had a plan for new homebuyers. Trump can't bully people into buying houses.

[Greg_In_SF]

2. People aren't stupid

They're not going to leave a 3.5% mortgage for a new 6.5% mortgage.

[Ferrets are Cool]

3. It sucks really bad out here.

My job request are down at least 50%.

[Raftergirl]

4. There are hardly any houses on the market in my town, but that should change in a few months when we thaw

out. TBS, anything that does come on the market is snapped up in days and for over ask. House down the street from me sold for 80k in September and one on my block when for $40k over ask. That one is being completely gutted and renovated. There has been fewer houses here on the market for several years now. No one wants to give up their low mortgage rate. The house down the block was an elderly couple and the husband died. That is why wife put the house on the market. On the few plots of land left in my town, builders are putting up $800k+ homes (just your standard suburban house) and they are definitely selling. It’s mainly one street with 10 homes on them, plopped down anywhere there is available land. They are not in neighborhoods.

It’s our excellent school district that is selling homes in my town.