The U.S. housing market continued to show signs of decline as mortgage applications and sales of existing homes fell while properties are taking longer to get sold. Mortgage applications for new home purchases dropped by 11 percent in April 2023 compared to March, according to a Mortgage Bankers Association May 19 press release. “Since the…
US Housing Market in Ongoing Monthly Decline
May 23, 2023
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Business & Marketseconomyexisting home salesMarketsreal estaterecessionU.S. housing marketUSUS NewsUS Real Estate
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Sales of Previously Owned Homes Drop for Ninth Month Straight as Mortgage Increases and Inventory Falls
November 18, 2022
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Business & Marketseconomyexisting home saleshousing affordabilityhousing sentimentinflationmortgage ratesPreviously-Owned Homesreal estaterecessionUSUS NewsUS Real Estate
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Existing-home sales declined for the ninth straight month in October, falling 5.9 percent from September, according to the National Association of Realtors (NAR), revealing the demand-dampening effects of higher interest rates amid decades-high inflation. Existing-home sales for October registered a seasonally adjusted annual rate of 4.43 million, a fall of 28.4 percent from 6.19 million in 2021….
Median Price of American Homes Climbs Above $400,000 for the First Time
August 12, 2022
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Business & Marketseconomyexisting home saleshigh inflationhousing affordabilityMarketsmedian house pricemortgage paymentsUSUS News
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The median price for a single-family existing-home has crossed the $400,000 mark for the first time ever, according to the National Association of Realtors (NAR). Existing single-family homes had a median price of $413,500 nationally in the second quarter of 2022, a 14.2 percent increase from a year ago, according to an Aug. 11 news…
LIVE 5 PM ET: Putin Says Gas Flows Will Resume, EU Still on Edge; Existing-Home Sales Drop | NTD Business
Russian leader Vladimir Putin signaling that gas deliveries to Europe will start up again, but European countries still have concerns. U.S. home sales are at a two-year low, and prices are rising to record highs. Is it a seller’s market or a buyer’s market? Netflix stock rallied today, despite the company losing nearly a million subscribers in the…
Putin Says Gas Flows Will Resume, EU Still on Edge; Existing-Home Sales Drop | NTD Business
Russian leader Vladimir Putin is signaling that gas deliveries to Europe will start up again, but European countries still have concerns. U.S. home sales are at a two-year low, and prices are rising to record highs. Is it a seller’s market or a buyer’s market? Netflix stock rallied despite the company losing nearly a million subscribers in the…
Housing Market to Cool Down With Existing Inventories, Says New Report
Homes sales are expected to cool down in 2022, as inventories pile up, according to a recent report by real estate listings website Realtor.com. The company had earlier predicted a 6.6 percent growth in existing home sales in 2022. The latest Realtor report, published on June 13, revised this to a 6.7 percent decline. While the…
Existing Home Sales Dip as Mortgage Rates Spike, House Prices Hit Record High
Sales of previously-owned homes in the United States fell in March as mortgage rates climbed to a 12-year high, leading mortgage refinance demand to plunge by an annual 68 percent while house prices hit a new record. Total existing-home sales fell 2.7 percent over the month and 4.5 percent over the year in March, marking the…
Existing Home Sales Surge 6.7 Percent in January, Prices Climb for 119th Month Straight
Sales of previously occupied homes in the United States surged by a forecast-beating 6.7 percent in January, with the supply of existing homes for sale falling to a record low and prices again ticking up, according to the National Association of Realtors (NAR). Existing-home sales rose to an annual rate of 6.5 million in January,…
Sales for New Homes Underperform in New Report by Census Bureau
Sales numbers for new homes in November have shown a fall of about 14 percent compared to the previous year. The rising prices are attributed to low inventories of existing homes, a shortage of building materials, and persistent supply chain disruptions. Although the sales for new homes have risen 12.4 percent from October, it is…
6.46 Million Existing Homes Sold in November, Sales Increase For Third Consecutive Month
Existing-home sales rose for the third straight month in November as buyers were encouraged by a robust job market as well as low-interest mortgage rates that are not expected to last long with the Fed looking to hike rates early spring. The sales for previously-owned homes increased by 1.9 percent last month when compared to…
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