{"id":77377,"date":"2024-01-19T05:00:11","date_gmt":"2024-01-19T13:00:11","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=77377"},"modified":"2024-01-18T15:22:28","modified_gmt":"2024-01-18T23:22:28","slug":"housing-market-tracker-december-2023","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/housing-market-tracker-december-2023\/","title":{"rendered":"Pending Home Sales Rose 4% in December\u2014Biggest Jump in Over Two Years"},"content":{"rendered":"<ul>\n<li aria-level=\"1\"><strong><i>Homebuyers came out of the woodwork as mortgage rates posted the biggest monthly decline since 2008.<\/i><\/strong><\/li>\n<li aria-level=\"1\"><strong><i>Sellers also came off the sidelines, but not with as much force; new listings <\/i><i>rose 0.1% to the highest level since September 2022.<\/i><\/strong><\/li>\n<li aria-level=\"1\"><strong><i>Prices jumped 4%, the most in over a year, as buyers competed for a still-limited pool of homes.<\/i><\/strong><\/li>\n<li aria-level=\"1\"><strong><i>Redfin agents say bidding wars in some areas are becoming more frequent as people who were browsing when rates were higher get serious about buying. But January is off to a slower-than-expected start amid frigid weather.\u00a0<\/i><\/strong><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Pending home sales rose 4.1% month over month in December on a seasonally adjusted basis\u2014the biggest increase since September 2021\u2014to the highest level in more than a year. They climbed 5.9% from a year earlier, the biggest annual gain since June 2021.<\/span><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-77378\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/01\/Pending-Sales.png\" alt=\"\" width=\"800\" height=\"600\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/01\/Pending-Sales.png 800w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/01\/Pending-Sales-300x225.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/01\/Pending-Sales-768x576.png 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Pending sales jumped because a steep drop in mortgage rates lured buyers to the market. The average 30-year-fixed mortgage rate fell to 6.82% in December from 7.44% in November, the biggest monthly decline since 2008. Buyers who were casually looking when rates were above 7% are now getting serious, Redfin agents say.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The dip in mortgage rates has also brought sellers off of the sidelines, though they haven\u2019t returned with as much intensity as buyers, likely because a <\/span><a href=\"https:\/\/www.redfin.com\/news\/mortgage-rate-lock-in-housing-2023\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">majority<\/span><\/a><span style=\"font-weight: 400;\"> of them don\u2019t want to give up the ultra low mortgage rate they scored during the pandemic. New listings rose 0.1% month over month to the highest seasonally adjusted level since September 2022, and were up 2.7% year over year\u2014the largest increase since July 2021.<\/span><\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-77379\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/01\/New-Listings.png\" alt=\"\" width=\"800\" height=\"600\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/01\/New-Listings.png 800w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/01\/New-Listings-300x225.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/01\/New-Listings-768x576.png 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">While housing supply has ticked up, it remains below pre-pandemic levels. Active listings, or the total number of homes for sale, rose 3.1% month over month on a seasonally adjusted basis but fell 5.1% from a year earlier.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cWe\u2019re definitely seeing an uptick in activity from both buyers and sellers,\u201d said <\/span><a href=\"https:\/\/www.redfin.com\/real-estate-agents\/abby-alwan\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Abby Alwan<\/span><\/a><span style=\"font-weight: 400;\">, a <\/span><a href=\"https:\/\/www.redfin.com\/premier\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Redfin Premier<\/span><\/a><span style=\"font-weight: 400;\"> real estate agent in <\/span><a href=\"https:\/\/www.redfin.com\/city\/30818\/TX\/Austin\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Austin, TX<\/span><\/a><span style=\"font-weight: 400;\">. \u201c<\/span><span style=\"font-weight: 400;\">I have two listings in the suburbs that six months ago would\u2019ve sat on the market. But all of a sudden, buyers are coming out of the woodwork thanks to lower rates. More folks are looking to have conversations about what they need to do to enter the market now that they\u2019ve seen improvement in the market.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It\u2019s worth noting that while demand jumped in December, January is off to a slower-than-expected <\/span><a href=\"https:\/\/www.redfin.com\/news\/housing-market-update-buyers-sellers-more-active\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">start<\/span><\/a><span style=\"font-weight: 400;\">, likely due to severe winter weather. Redin economists expect the market to pick up as spring approaches, so long as mortgage rates don\u2019t shoot up.<\/span><\/p>\n<h3>Home Prices Post Largest Increase in Over a Year<\/h3>\n<p><span style=\"font-weight: 400;\">The median U.S. home sale price climbed 4% year over year to $403,714 in December, the biggest annual increase since October 2022, and fell 1.1% month over month. Please note that home price data is not seasonally adjusted, and it is not unusual for prices to slow from a month earlier in December.<\/span><\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-77380\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/01\/Median-Sale-Price.png\" alt=\"\" width=\"800\" height=\"600\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/01\/Median-Sale-Price.png 800w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/01\/Median-Sale-Price-300x225.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/01\/Median-Sale-Price-768x576.png 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">The recent uptick in homebuyer demand is likely contributing to the rise in housing prices, but the primary driver of price increases is America\u2019s persistent shortage of homes for sale, which is fueling competition in some areas.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cBidding wars are happening again, but they\u2019re much more reasonable than they were during the pandemic homebuying frenzy,\u201d Alwan said. \u201cHouses are getting between one and five competing bids, and instead of offering one or two hundred thousand dollars over the asking price, competitive buyers are offering 3% to 5% over.\u201d<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">December 2023 Highlights: United States<\/span><\/h3>\n<table>\n<thead>\n<tr>\n<th><\/th>\n<th><b>December 2023<\/b><\/th>\n<th><b>Month-Over-Month Change<\/b><\/th>\n<th><b>Year-Over-Year Change<\/b><\/th>\n<\/tr>\n<tr>\n<th><b>Median sale price<\/b><\/th>\n<th><span style=\"font-weight: 400;\">$403,714<\/span><\/th>\n<th><span style=\"font-weight: 400;\">-1.1%<\/span><\/th>\n<th><span style=\"font-weight: 400;\">4.0%<\/span><\/th>\n<\/tr>\n<tr>\n<th><b>Pending sales, seasonally adjusted<\/b><\/th>\n<th><span style=\"font-weight: 400;\">425,466<\/span><\/th>\n<th><span style=\"font-weight: 400;\">4.1%<\/span><\/th>\n<th><span style=\"font-weight: 400;\">5.9%<\/span><\/th>\n<\/tr>\n<tr>\n<th><b>Homes sold, seasonally adjusted<\/b><\/th>\n<th><span style=\"font-weight: 400;\">407,255<\/span><\/th>\n<th><span style=\"font-weight: 400;\">-0.5%<\/span><\/th>\n<th><span style=\"font-weight: 400;\">-4.0%<\/span><\/th>\n<\/tr>\n<tr>\n<th><b>New listings, seasonally adjusted<\/b><\/th>\n<th><span style=\"font-weight: 400;\">511,136<\/span><\/th>\n<th><span style=\"font-weight: 400;\">0.1%<\/span><\/th>\n<th><span style=\"font-weight: 400;\">2.7%<\/span><\/th>\n<\/tr>\n<tr>\n<th><b>All homes for sale, seasonally adjusted (active listings)<\/b><\/th>\n<th><span style=\"font-weight: 400;\">1,569,438<\/span><\/th>\n<th><span style=\"font-weight: 400;\">3.1%<\/span><\/th>\n<th><span style=\"font-weight: 400;\">-5.1%<\/span><\/th>\n<\/tr>\n<tr>\n<th><b>Months of supply<\/b><\/th>\n<th><span style=\"font-weight: 400;\">2.6<\/span><\/th>\n<th><span style=\"font-weight: 400;\">-0.3<\/span><\/th>\n<th><span style=\"font-weight: 400;\">0<\/span><\/th>\n<\/tr>\n<tr>\n<th><b>Median days on market<\/b><\/th>\n<th><span style=\"font-weight: 400;\">43<\/span><\/th>\n<th><span style=\"font-weight: 400;\">6<\/span><\/th>\n<th><span style=\"font-weight: 400;\">-2<\/span><\/th>\n<\/tr>\n<tr>\n<th><b>Share of for-sale homes with a price drop<\/b><\/th>\n<th><span style=\"font-weight: 400;\">14.2%<\/span><\/th>\n<th><span style=\"font-weight: 400;\">-5 ppts<\/span><\/th>\n<th><span style=\"font-weight: 400;\">0.5 ppts<\/span><\/th>\n<\/tr>\n<tr>\n<th><b>Share of homes sold above final list price<\/b><\/th>\n<th><span style=\"font-weight: 400;\">25.5%<\/span><\/th>\n<th><span style=\"font-weight: 400;\">-3.3 ppts<\/span><\/th>\n<th><span style=\"font-weight: 400;\">2.5 ppts<\/span><\/th>\n<\/tr>\n<tr>\n<th><b>Average sale-to-final-list-price ratio<\/b><\/th>\n<th><span style=\"font-weight: 400;\">98.6%<\/span><\/th>\n<th><span style=\"font-weight: 400;\">-0.4 ppts<\/span><\/th>\n<th><span style=\"font-weight: 400;\">0.5 ppts<\/span><\/th>\n<\/tr>\n<tr>\n<th><b>Pending sales that fell out of contract, as % of overall pending sales<\/b><\/th>\n<th><span style=\"font-weight: 400;\">16.2%<\/span><\/th>\n<th><span style=\"font-weight: 400;\">-0.1 ppts<\/span><\/th>\n<th><span style=\"font-weight: 400;\">0.7 ppts<\/span><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>\n<p style=\"text-align: center;\"><a href=\"https:\/\/fred.stlouisfed.org\/graph\/?g=1bnGA\" target=\"_blank\" rel=\"noopener\"><b>Average 30-year fixed mortgage rate<\/b><\/a><\/p>\n<\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">6.82%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-0.63 ppts<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">0.45 ppts<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><i><span style=\"font-weight: 400;\">Note: Data is subject to revision<\/span><\/i><\/p>\n<h3><span style=\"font-weight: 400;\">Metro-Level Highlights: December 2023<\/span><\/h3>\n<p><i><span style=\"font-weight: 400;\">Data in the bullets below came from a list of the 91 U.S. metro areas with populations of at least 750,000. Select metros may be excluded from time to time to ensure data accuracy. A full metro-level data table can be found in the \u201cdownload\u201d tab of the dashboard in<\/span><\/i><i><span style=\"font-weight: 400;\"> the monthly section of the Redfin <\/span><\/i><a href=\"https:\/\/www.redfin.com\/news\/data-center\/\" target=\"_blank\" rel=\"noopener\"><i><span style=\"font-weight: 400;\">Data Center<\/span><\/i><\/a><i><span style=\"font-weight: 400;\">. <\/span><\/i><i><span style=\"font-weight: 400;\">Refer to our <\/span><\/i><a href=\"https:\/\/www.redfin.com\/news\/data-center-metrics-definitions\/\" target=\"_blank\" rel=\"noopener\"><i><span style=\"font-weight: 400;\">metrics definition page<\/span><\/i><\/a><i><span style=\"font-weight: 400;\"> for explanations of metrics used in this report. Metro-level data is not seasonally adjusted.<\/span><\/i><\/p>\n<ul>\n<li aria-level=\"1\"><b>Pending sales: <\/b><span style=\"font-weight: 400;\">In New Orleans, pending sales rose 40.3% year over year, more than any other metro Redfin analyzed. Next came McAllen, TX (31.8%) and Dallas (25.7%). Pending sales fell most in Honolulu (-27.3%), Knoxville, TN (-24.2%) and Greensboro, NC (-22.8%).<\/span><\/li>\n<li aria-level=\"1\"><b>Closed sales:<\/b><span style=\"font-weight: 400;\"> Closed sales rose in just six metros, with the biggest increases in North Port, FL (7.1% YoY), Las Vegas (4.6%) and Salt Lake City (4.4%). Closed sales fell fastest in Tacoma, WA (-23%), Boston (-19.4%) and Frederick, MD (-18.6%).<\/span><\/li>\n<li aria-level=\"1\"><b>Prices: <\/b><span style=\"font-weight: 400;\">Median sale prices rose most from a year earlier in Anaheim, CA (17.6%), Camden, NJ (16.1%) and Rochester, NY (16%). They fell in 10 metros, with the biggest declines in New Orleans (-5.4%), Charlotte, NC (-2.6%) and Austin (-2.4%).<\/span><\/li>\n<li aria-level=\"1\"><b>New listings: <\/b><span style=\"font-weight: 400;\">New listings rose most from a year earlier in Salt Lake City (22.3%), Memphis, TN (18.4%) and McAllen (16.6%). They fell most in San Francisco (-30.8%), Atlanta (-17.6%) and Indianapolis (-15.4%).<\/span><\/li>\n<li aria-level=\"1\"><b>Overall supply: <\/b><span style=\"font-weight: 400;\">Active listings increased fastest in Cape Coral, FL (53.7% YoY), North Port (40.7%) and New Orleans (26%). They decreased fastest in Las Vegas (-31%), New Brunswick, NJ (-25.4%) and Anaheim (-24.6%).<\/span><\/li>\n<li aria-level=\"1\"><b>Competition:<\/b><span style=\"font-weight: 400;\"> In Rochester, 65.3% of homes sold above their final list price, the highest share among the metros Redfin analyzed. Next came Newark, NJ (61.3%) and Buffalo, NY (61.2%). The shares were lowest in West Palm Beach, FL (8.6%), Cape Coral (9.4%) and Austin (9.4%).<\/span><\/li>\n<li aria-level=\"1\"><b>Speed: <\/b><span style=\"font-weight: 400;\">In Rochester, 61% of homes that went under contract did so within two weeks\u2014the highest share among the metros Redfin analyzed. Next came Grand Rapids, MI (48.5%) and Cincinnati (46.6%). The lowest shares were in Honolulu (2.4%), Knoxville (6%) and Lake County, IL (8.8%).<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-weight: 400;\">Home-Purchase Cancellations<\/span><\/h3>\n<p><i><span style=\"font-weight: 400;\">Data below came from a list of the 50 most populous metro areas.\u00a0<\/span><\/i><\/p>\n<table>\n<tbody>\n<tr>\n<td><b>Metro Area<\/b><\/td>\n<td><b>December 2023: Pending Sales That Fell Out of Contract, as % of Overall Pending Sales<\/b><\/td>\n<td><b>November 2023: Pending Sales That Fell Out of Contract, as % of Overall Pending Sales<\/b><\/td>\n<td><b>December 2022: Pending Sales That Fell Out of Contract, as % of Overall Pending Sales<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Anaheim, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">15.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">15.9%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Atlanta, GA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">23.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">24.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">25.5%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Austin, TX<\/span><\/td>\n<td><span style=\"font-weight: 400;\">13.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">14.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16.5%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Baltimore, MD<\/span><\/td>\n<td><span style=\"font-weight: 400;\">14.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">14.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">14.5%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Boston, MA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.5%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Charlotte, NC<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">13.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">13.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Chicago, IL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">18.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">17.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">17.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Cincinnati, OH<\/span><\/td>\n<td><span style=\"font-weight: 400;\">14.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">14.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">14.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Cleveland, OH<\/span><\/td>\n<td><span style=\"font-weight: 400;\">19.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">22.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20.5%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Columbus, OH<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16.9%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Dallas, TX<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">18.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Denver, CO<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">18.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">19.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Detroit, MI<\/span><\/td>\n<td><span style=\"font-weight: 400;\">18.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">17.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Fort Lauderdale, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">22.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">21.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Fort Worth, TX<\/span><\/td>\n<td><span style=\"font-weight: 400;\">17.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">18.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20.4%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Houston, TX<\/span><\/td>\n<td><span style=\"font-weight: 400;\">18.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">18.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">19.4%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Indianapolis, IN<\/span><\/td>\n<td><span style=\"font-weight: 400;\">18.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">17.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">17.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Jacksonville, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">21.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">23.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">25.7%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Kansas City, MO<\/span><\/td>\n<td><span style=\"font-weight: 400;\">15.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">14.4%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Las Vegas, NV<\/span><\/td>\n<td><span style=\"font-weight: 400;\">19.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">21.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">17.7%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Los Angeles, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">15.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">14.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Miami, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">19.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">17.4%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Milwaukee, WI<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.9%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Minneapolis, MN<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">9.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Montgomery County, PA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">9.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">8.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.9%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Nashville, TN<\/span><\/td>\n<td><span style=\"font-weight: 400;\">14.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">14.5%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Nassau County, NY<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">New Brunswick, NJ<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">13.0%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">New York, NY<\/span><\/td>\n<td><span style=\"font-weight: 400;\">8.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">9.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">8.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Newark, NJ<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Oakland, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.5%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Orlando, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">22.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">21.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20.4%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Philadelphia, PA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.9%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Phoenix, AZ<\/span><\/td>\n<td><span style=\"font-weight: 400;\">17.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">19.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">18.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Pittsburgh, PA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">17.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Portland, OR<\/span><\/td>\n<td><span style=\"font-weight: 400;\">13.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">15.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">14.7%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Providence, RI<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">13.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.7%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Riverside, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">17.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">17.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">18.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Sacramento, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">14.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16.7%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">San Antonio, TX<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">19.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">San Diego, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">15.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">13.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">San Francisco, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">6.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">San Jose, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">6.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">6.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">7.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Seattle, WA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.9%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">St. Louis, MO<\/span><\/td>\n<td><span style=\"font-weight: 400;\">17.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">15.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16.7%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Tampa, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">21.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">21.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Virginia Beach, VA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">15.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">14.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Warren, MI<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.7%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Washington, DC<\/span><\/td>\n<td><span style=\"font-weight: 400;\">14.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">14.9%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">West Palm Beach, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">17.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">17.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">17.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>National\u2014U.S.A.<\/b><\/td>\n<td><b>16.2%<\/b><\/td>\n<td><b>16.3%<\/b><\/td>\n<td><b>15.5%<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Homebuyers came out of the woodwork as mortgage rates posted the biggest monthly decline since 2008. Sellers also came off the sidelines, but not with as much force; new listings rose 0.1% to the highest level since September 2022. Prices jumped 4%, the most in over a year, as buyers competed for a still-limited pool [&hellip;]<\/p>\n","protected":false},"author":13346,"featured_media":77381,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[8,22],"tags":[32,623],"dashboard":[],"coauthors":[125],"class_list":["post-77377","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-housing-market-news","category-market-tracker","tag-housing-market-tracker","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.7 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Pending Home Sales Rose 4% in December\u2014Biggest Jump Since 2021<\/title>\n<meta name=\"description\" content=\"Buyers came out of the woodwork as mortgage rates posted the biggest drop since 2008. 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