Getty/Grace Cary
- New listings of homes in the US fell in January, the first decline since last June.
- Pending home sales also weakened, rising 1.1% in the month, a big drop from 5.1% in December.
- Stubbornly high mortgage rates and seasonal factors have weighed on housing-market activity.
After showing stronger signs of life in recent months, activity in the US housing market shifted back to low gear in January.
New listings of homes for sale dropped 1.2% last month, marking the first decline since last June and a slowdown from December's 4.2% gain, according to a Redfin.
The total number of active listings dropped 0.3% from a month earlier and was down 4.4% year-over-year. Finally, the number of pending home sales saw a tepid increase, rising just 1.1% in the month compared to an increase of 5.1% in December.