U.S. pending home sales

rose by the most since June 2020, potentially a temporary reprieve as lower mortgage rates in the month helped prop up demand. The National Association of Realtors’ index of contract signings to purchase previously owned homes increased 8.1 percent in January from a month earlier to 82.5, according to data released Monday. Even with the surge at the start of the year, contract signings were down 22.4 percent from January 2022 on an unadjusted basis.