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Today, the cost to borrow is higher, and the price tag on the home is higher.” Sales did perk up in the final quarter of the year: they ran at a rate of 4.24 million in December, which was 9.3% ...
The National Association of Realtors said Friday that existing U.S. home sales totaled 4.06 million last year, a 0.7% decline from 2023. That is the weakest year for home sales since 1995, echoing ...
The average mortgage rate has more than doubled since the start of last year, adding hundreds of dollars to the monthly cost of a home and slowing the number of sales. “Today’s housing market ...
Sales in the South fell 2.8% from November to an annual rate of 1.72 million in December, down 4.4% from a year ago. The median price in the South was $352,100, a year-over-year increase of 3.8%.
Sales of previously occupied U.S. homes slumped in October to their slowest pace in more than 13 years as surging mortgage rates and rising prices kept many prospective homebuyers on the sidelines.
At September's sales pace, it would take 4.3 months to exhaust the current inventory of existing homes, the highest since May 2020 and up from 3.4 months a year ago.