10:46 AM EST, 01/16/2025 (MT Newswires) -- Redfin (RDFN) said Thursday that pending home sales posted their biggest decline since October 2023 as wildfires burn in southern California, frigid weather hits the Northeast, Midwest and South and housing costs rise in the US.

Pending home sales dropped 8.4% year over year during the four weeks ended Jan. 12, according to the real estate brokerage.

Redfin also said prospective sellers are "sitting on the sidelines," with new listings slipping 3.6%, the biggest fall since September 2023.

Price: 7.88, Change: +0.05, Percent Change: +0.64