That’s the longest streak of declining home sales on record, going back to 1999, and also marks the weakest sales activity since 2010. It’s the continuation of a slowing trend that began in February 2022. Sales of existing homes — which include single-family homes, townhomes, condominiums and co-ops — were down a whopping 36.9% in January from a year ago and down 0.7% from December, according to a National Association of Realtors report released Tuesday.
“Prices vary depending on a market’s affordability, with lower-priced regions witnessing modest growth and more expensive regions experiencing declines.” Even as home sales dropped, home prices continued to climb last month nationally. The median home price was $359,000 in January, up 1.3% from one year ago, according to the report. But that’s down from the record high of $413,800 in June. The price increase marks more than a decade of year-over-year monthly gains.
Not just homebuyers, the rate hikes are also keeping home sellers away, as the potential sellers are locked in with their low mortgage rates.
Well, why don't you blame BlackRock? They're adamant on creating a permanent class of renters.
Meanwhile Home Depot misses it's sales target.
Just yesterday CNN said that the housing prices were dropping!
They better lower the interest rates across the board
Biden’s economy
Get rid of Don Lemon!
Old Joe has screwed up everything he's touched to date. We may never recover from his incompetent financial agenda and he still has nearly 2 years to make it worse, as he will!!!
Don't blame Biden for high house problems they been going up for a while,in 1970 my mom house cost 23000.00 now the same house has triple+ new windows + new carpet.Greed I say.
And I thought the economy was booming.
I wonder why.... Interest rates? So much for affordable housing nearly everything purchased is becoming a rental for top dollar
Who is to blame now ?