US Housing Market Faces Steep Decline in Sales and Prices.
TL;DR Summary
Existing-home sales in April saw their sharpest price decline in more than a decade, reflecting the first significant year-over-year decline in housing prices, which have remained stubbornly high even as the broader housing market has slowed down due to higher borrowing costs. Prices for previously owned homes fell by 1.7 percent in April, even sharper than the 1 percent price decline in March, according to data released Thursday by the National Association of Realtors.
Topics:business#existing-home-sales#housing-market#interest-rates#mortgage-rates#national-association-of-realtors#real-estate
- Existing-home sales experience sharpest decline in a decade The Washington Post
- April existing home sales fall 3.4%; leading economic indicators down 0.6% CNBC Television
- Home Prices Posted Largest Annual Drop in More Than 11 Years in April The Wall Street Journal
- US home prices fall by most in 11 years but sales are down CNN
- For lower mortgage rates, finish more apartments HousingWire
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