Homebuyers Flood the Market

Amid mortgage rates echoing the peak levels of the early 2000s, February saw an unexpected surge in homebuying, marking the largest monthly increase of existing home sales in a year.Last month's existing home sales soared by 9.5 percent, despite the historically high mortgage rates that had been cooling the market, according to a National Association of Realtors report issued Thursday.

The unexpected jump in sales comes at a time when the housing market is typically quieter due to winter conditions. However, the increase has not been uniform across the country. The Northeast saw no change in sales but led in price gains, according to the NAR, suggesting regional market dynamics are at play.Nationally, properties stayed on the market longer in February compared to the previous month and year, indicating a slight cooling.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Housing Market Sees Flood of New HomesCompleted new home construction jumped in February, according to the U.S. Commerce Department.
Source: Newsweek - 🏆 468. / 52 Read more »

Housing Market Update: Are Sellers Returning to the Market?Listings jumped in February to their highest levels in more than a year, according to Redfin on Friday.
Source: Newsweek - 🏆 468. / 52 Read more »

Bitcoin (BTC) Price Plunged Below $61K but Market Recovery Signs Appear (Market Watch)Crypto Blog
Source: Crypto_Potato - 🏆 568. / 51 Read more »

Nvidia Surpasses Entire Crypto Market as AI Hype Picks Up SteamNvidia's market cap has surpassed $2 trillion, outstripping the entire crypto market's valuation
Source: Utoday_en - 🏆 295. / 63 Read more »

Bitcoin Market Cap Records New ATH, Shiba Inu’s Double Digit Run Continues (Market Watch)Crypto Blog
Source: Crypto_Potato - 🏆 568. / 51 Read more »

Canon Aims to Achieve Overwhelming Market Share in Mirrorless Camera MarketCanon's 2024 corporate strategy includes the goal of becoming the number one player in the mirrorless camera market. The company plans to establish an absolute position in the market by expanding its EOS R system and targeting video-oriented customers. Canon already leads in interchangeable lens mirrorless sales in the United States, but aims for a more dominant position.
Source: petapixel - 🏆 527. / 51 Read more »