The US housing market seemed like it was moving in the right direction recently, some better results people said were lower mortgage rates finally starting to work. But then reality dropped like a hammer today when the nation’s largest realtor group reported a massive 9.3% drop in pending home sales for December, biggest monthly decline since 2020. Stunned analysts are trying to figure out why lower rates aren’t stimulating housing and what these latest results mean.

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US Pending-Home Sales Plunge by Most Since Start of Pandemic
https://www.bloomberg.com/news/articles/2026-01-21/us-pending-home-sales-plunge-by-most-since-start-of-pandemic

NAR Pending Home Sales Report Shows 9.3% Decrease in December
https://www.nar.realtor/newsroom/nar-pending-home-sales-report-shows-9-3-decrease-in-december

NAR First-Time Home Buyer Share Falls to Historic Low of 21%, Median Age Rises to 40
https://www.nar.realtor/newsroom/first-time-home-buyer-share-falls-to-historic-low-of-21-median-age-rises-to-40

BlackRock and Housing: Setting the Record Straight
https://www.blackrock.com/corporate/literature/brochure/blackrock-and-housing-setting-the-record-straight.pdf

Trump Signs Order Targeting Institutional Housing Investors
https://www.bloomberg.com/news/articles/2026-01-21/trump-signs-order-targeting-institutional-housing-investors

https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU

Bloomberg Surveillance TV: January 20th, 2026

Bloomberg Surveillance

Trump, Greenland and market volatility

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