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Existing Home Sales

All articles tagged with #existing home sales

economy1 month ago•2 min saved

February housing data shows small lift in sales, but supply remains tight

February existing-home sales rose 1.7% from January to a 4.09 million pace, but are down 1.4% from a year ago, as tight inventory persists (1.29 million for sale, 3.8-month supply). The median price was $398,000, up 0.3% YoY, and time on market rose to 47 days; first-time buyers were 34% of sales and investors 16%. Relisted delistings hit a January record, signaling only modest inventory gains but continued headwinds for affordability.

via CNBC|

#economy #existing-home-sales #home-prices

real-estate2 months ago•44 min saved

December Existing-Home Sales Jump 5.1% as Rates Ease and Inventory Tightens

December existing-home sales rose 5.1% month-over-month to a 4.35 million seasonally adjusted annual rate, but were down 1.4% from December 2024; inventory fell to 1.18 million (3.3 months’ supply) while the median price rose 0.4% year-over-year to 405,400. Single-family sales climbed 5.1% to a 3.95 million SAAR with a $409,500 median, and condos/co-ops rose 5.3% to 400,000 with a $364,400 median. Regions all posted MoM gains (Northeast +2.0%, Midwest -2.0%, South +6.9%, West +6.6%). The 30-year fixed mortgage averaged 6.19% in December, down from 6.24% in November. NAR Chief Economist Lawrence Yun says conditions improved in Q4 thanks to lower rates, but inventory remains tight and more listings are expected in February.

via National Association of REALTORS®|

#existing-home-sales #housing-statistics #lawrence-yun

politics2 months ago•1 min saved

Trump Bets on Housing Push as Affordability Improves

President Trump touts early gains in housing affordability as mortgage rates fall and existing home sales rebound, with supporting income growth. He also signals further relief by directing Fannie Mae and Freddie Mac to buy $200 billion in mortgage-backed securities and by curbing large institutional investors’ single-family purchases, while pledging to cut red tape and boost supply to restore the dream of homeownership.

via The White House (.gov)|

#existing-home-sales #housing-affordability #housing-policy

real-estate2 months ago•2 min saved

December home sales jump as inventory stays tight at year’s end

December’s seasonally adjusted annualized sales rate rose to 4.35 million, up 5.1% from November and 1.4% year over year, with the full year totaling 4.06 million (unchanged from 2024). Inventory fell to 1.18 million (about 3.3 months’ supply), helping the median price rise 0.4% to $405,400—the 30th straight annual gain. December was the strongest in nearly three years after seasonal adjustment, aided by mortgage rates hovering around 6.2–6.3% during closings. Analysts note Q4 improvement amid easing rates and expect more listings to come in February.

via CNBC|

#existing-home-sales #inventory #median-price

real-estate1 year ago•6 min saved

October Sees First Annual Home Sales Gain in Over 3 Years Amid Rate Dip

Existing-home sales in the U.S. increased by 3.4% in October, marking the first year-over-year gain since July 2021, according to the National Association of REALTORS®. Sales rose across all major regions, with a total annual rate of 3.96 million. The median home price also increased by 4% to $407,200. Inventory levels rose slightly, while mortgage rates remained elevated but are expected to stabilize. First-time buyers accounted for 27% of sales, and cash sales made up 27% of transactions.

via National Association of REALTORS®|

#existing-home-sales #home-prices #housing-inventory

real-estate1 year ago•1 min saved

"US Existing Home Sales Decline in April Amid Rising Mortgage Rates and Prices"

Existing home sales in the US dropped 1.9% in April to a seasonally adjusted annual rate of 4.14 million, attributed to high mortgage rates and rising prices. The median price of previously occupied homes rose to a record $407,600, while the supply of homes increased but remains low. Sales were brisker at the high end of the market, with a surge in homes priced at $1 million or more, and a third of sales going to first-time buyers. Economists suggest that relief for the housing market could come from a potential Federal Reserve interest rate cut later this year.

via ABC News|

#existing-home-sales #high-prices #mortgage-rates

real-estate1 year ago•6 min saved

"US Home Sales Decline in April Amid Rising Mortgage Rates"

Existing-home sales in the U.S. decreased by 1.9% in April, with declines in all four major regions. The total housing inventory increased, and the median existing-home price rose to a record high of $407,600. First-time buyers accounted for 33% of sales, while all-cash sales remained at 28%. Mortgage rates averaged 7.02%, up from 6.39% a year ago. The Northeast, Midwest, and South experienced year-over-year sales decreases, while the West saw an increase.

via National Association of REALTORS®|

#existing-home-sales #housing-inventory #median-home-price

real-estate2 years ago•2 min saved

"March Home Sales Plummet Amid Rising Mortgage Rates and High Prices"

Existing home sales fell by 4.3% in March, the largest drop in over a year, as higher mortgage rates deterred potential buyers and led homeowners to avoid selling. Total housing inventory increased, with the median price of existing homes rising to $393,500. The NAR chief economist noted that rebounding home sales are hindered by stagnant interest rates, while recent inflation reports have led to expectations of minimal rate cuts by the Federal Reserve. The housing market is experiencing decreased demand and supply due to the impact of rising mortgage rates, with new home sales showing a 6% increase in February.

via Washington Examiner|

#existing-home-sales #federal-reserve #housing-market

real-estate2 years ago•2 min saved

"March Sees Drop in US Existing Home Sales Despite Median Price Increase"

US existing home sales dropped 4.3% in March to a seasonally adjusted annual rate of 4.19 million units, with sales falling in the South, Midwest, and West but rising in the Northeast. Higher interest rates and house prices are cited as factors affecting buyer activity. The median existing home price increased 4.8% from a year earlier to a record high of $393,500 in March, while housing inventory jumped 4.7% to 1.11 million units. Despite the increase in supply, the market remains constrained, with first-time buyers accounting for 32% of sales and all-cash sales making up 28% of transactions.

via Yahoo Finance|

#existing-home-sales #housing-market #interest-rates

real-estate2 years ago•7 min saved

"March Sees 4.3% Drop in Existing-Home Sales"

Existing-home sales in the U.S. decreased by 4.3% in March, with declines in the Midwest, South, and West, but a rise in the Northeast. The total housing inventory increased, and the median home price rose to $393,500. First-time buyers accounted for 32% of sales, while all-cash sales decreased to 28%. Mortgage rates also increased to 6.88%.

via National Association of REALTORS®|

#existing-home-sales #housing-inventory #median-home-price

economy2 years ago•3 min saved

"US Housing Starts Plummet to 5-Month Low, First-time Buyers Struggle"

Housing starts plunged 14.8 percent in January, despite positive revisions, marking a bad start to 2024. Building permits for privately-owned housing units also decreased by 1.5 percent from December, while existing home sales fell to their lowest level since 2010. Additionally, retail sales took an unexpected 0.8 percent dive in January, indicating a challenging start to the year for the economy.

via Mish Talk|

#building-permits #economy #existing-home-sales

real-estate2 years ago•2 min saved

"US Existing Home Sales Hit 28-Year Low in 2023"

U.S. existing home sales fell to the lowest level since 1995, with sales of previously owned homes dropping 1% in December to an annual rate of 3.78 million units. The decline in inventory led to a record high median price of $389,800 for existing homes sold in December. The supply crunch is attributed to the rise in mortgage rates, which have recently retreated, and experts believe the market may turn higher in the new year with more inventory expected to appear.

via Fox Business|

#existing-home-sales #housing-market #inventory

real-estate2 years ago•2 min saved

US Home Sales Surge as Mortgage Rates Drop and Listings Reach Record High

U.S. existing home sales rebounded in November, rising 0.8% from the previous month to an annual rate of 3.82 million units, as lower mortgage rates enticed buyers back into the market. However, sales remain down 7.3% compared to November 2022. The decline in inventory contributed to higher prices, with the median price of an existing home sold in October up 4% from a year ago. The supply crunch is driven by sellers holding onto low mortgage rates, and experts believe a significant increase in home listings may not occur until the second half of 2024.

via Fox Business|

#existing-home-sales #housing-market #inventory

real-estate2 years ago•7 min saved

November Sees Resurgence in Home Sales and Listings, Offering Hope for Buyers

Existing-home sales in the U.S. increased by 0.8% in November, ending a five-month decline, according to the National Association of REALTORS. Sales rose in the Midwest and South but fell in the Northeast and West. Year-over-year, all four regions experienced decreases in sales. The median existing-home price for all housing types increased by 4.0% from November 2022. Mortgage rates have recently dropped, which is expected to lead to a rebound in sales.

via NAR.realtor|

#existing-home-sales #home-prices #housing-market

finance2 years ago•2 min saved

"Continued Decline: Mortgage Rates Drop for Fourth Week, Hovering Above 7%"

Mortgage rates in the US fell for the fourth consecutive week, dropping to an average of 7.29% for a 30-year fixed-rate mortgage. However, rates remain above 7%, and potential homebuyers are still waiting for lower rates and more inventory. Existing home sales have fallen to a thirteen-year low, reflecting the reluctance of buyers. Despite the recent decline, the cost of borrowing remains high, and it is uncertain whether the lower rates will attract more buyers to the market.

via CNN|

#existing-home-sales #finance #homebuyers