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Month-over-month, contract signings fell in the Northeast and Midwest but climbed in the South and West. Pending sales declined in all regions compared to one year ago.

NAR encourages the Administration to look more deeply at how it can address the root causes of rental affordability—namely, affordable housing supply.

Existing-home sales retreated for the 11th consecutive month in December 2022, with three of the four U.S. regions recording month-over-month drops.

NAR will continue to advocate for loan level pricing adjustments (LLPA) reform as the housing market continues to struggle with the sharpest blow to affordability in decades.

The Environmental Protection Agency’s and Army Corps of Engineers’ final rule does not provide the clarity and certainty essential for predictable and efficient permitting as NAR had hoped.