{"id":5979,"date":"2014-02-03T13:34:45","date_gmt":"2014-02-03T13:34:45","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=5979"},"modified":"2014-02-03T13:34:45","modified_gmt":"2014-02-03T13:34:45","slug":"frigid-weather-rising-prices-cooling-sales-contracts","status":"publish","type":"post","link":"http:\/\/www.anthonydidonato.net\/wordpress\/frigid-weather-rising-prices-cooling-sales-contracts\/","title":{"rendered":"Frigid Weather, Rising Prices Cooling Sales Contracts"},"content":{"rendered":"

Frigid Weather, Rising Prices Cooling Sales Contracts<\/h2>\n

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Frigid Weather, Rising Prices Cooling Sales Contracts. Image courtesy of imagerymajestic \/ FreeDigitalPhotos.net<\/p><\/div>\n

The record-low weather temperatures freezing parts of the country the past month are hampering pending home sales.<\/p>\n

\u201cUnusually disruptive weather across large stretches of the country in December forced people indoors and prevented some buyers from looking at homes and making offers,\u201d says Lawrence Yun, chief economist for the National Association of REALTORS\u00ae.<\/p>\n

Mixed with the cold weather, rising home prices, which are rising faster than incomes, are also giving \u00a0\u201cpause to some potential buyers, while at the same a lack of inventory means insufficient choice,\u201d Yun says.<\/p>\n

NAR reports that pending home sales dropped across all four regions of the country, falling 8.7 percent nationally in December from the previous month. NAR\u2019s Pending Home Sales Index, a forward-looking indicator based on contracts and not closings, is 8.8 percent below year-ago levels. Pending home sales are at the lowest levels since October 2011, NAR reports.<\/p>\n

Still, Yun notes, \u201calthough it could take several months for us to get a clearer read on market momentum, job growth and pent-up demand are positive factors.\u201d<\/p>\n

Regional Breakdown<\/strong><\/p>\n

Here\u2019s a look at pending home sales in December across the country:<\/p>\n