0950 ET - Homebuyers have the most options since 2020, but few are biting because rising housing costs have made monthly payments tough to swallow, Redfin says. Pending home sales in January fell to the lowest level on record aside from the start of the pandemic. They dropped 4.2% month-over- month--the largest decline on a seasonally adjusted basis since August 2023--and 6.3% year-over- year. Meanwhile, active listings of homes for sale rose to the highest level since early in the pandemic. They climbed 0.3% month-over-month on a seasonally adjusted basis in January and 12.9% year-over-year. New listings hit the highest level since July 2022, increasing 1.9% month-over- month and 4.7% year-over-year. (chris.wack@wsj.com)
(END) Dow Jones Newswires
February 13, 2025 09:50 ET (14:50 GMT)
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