Mortgage Rates Drop Sparks Homebuyer Demand as Pending Sales and New Listings Pick Up
- Mortgage rates declined to lowest level since May, sparking early rebound in homebuyer demand
- Pending home sales posted smallest yearly decline in 20 months
- New listings jumped 12.2% year-over-year, the biggest increase since June 2021
- Median sale price up 4.5% year-over-year,accelerating from October
- Share of homes sold above list price rose to 25% from 23%