WASHINGTON—Contracts to buy U.S. previously owned homes rose by the most in more than 2–1/2 years in January, but a resurgence in mortgage rates could delay a much-awaited housing market turnaround.
The National Association of Realtors (NAR) said on Monday its Pending Home Sales Index, based on signed contracts, jumped 8.1 percent last month, the biggest increase since June 2020. Economists polled by Reuters had forecast contracts, which become sales after a month or two, rising 1.0 percent.
