According to a report released by the National Association of Realtors (NAR), mortgage interest rates reached a low point of 6.61% at the end of December but slightly increased in January. Lawrence Yun, Chief Economist at NAR, pointed out that consumers are particularly sensitive to changes in mortgage interest rates during the current economic cycle, which directly affects home sales.

Higher mortgage interest rates not only limit the purchasing power of buyers but also affect sellers' listing intentions. Many sellers are also potential buyers and are unwilling to replace their previous low-interest rates with higher ones, resulting in a shortage of housing supply. This further exacerbates the issue of buyers struggling to find desirable properties.

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Furthermore, factors such as weather may also influence buyers' decisions. For example, cold weather may cause some buyers to postpone their purchasing plans, waiting for warmer spring weather in anticipation of more choices and lower mortgage interest rates.

Although the number of homes under contract has increased in the Northeast and West regions, sales volumes in the Midwest and South regions are declining. These regional differences may be closely related to local economic conditions, employment situations, and other factors that require further in-depth analysis and observation.