Existing-Home Sales Decreased 4.9% in January, But Increased Year-Over-Year for Fourth Consecutive Month
Existing-home sales slid 4.9% in January to a seasonally adjusted annual rate of 4.08 million. However, sales rose 2.0% from one year ago, the fourth straight monthly year-over-year increase. The median existing-home sales price advanced 4.8% from January 2024 to $396,900, the 19th consecutive month of year-over-year price increases.
Home prices and mortgage rates, which were a drag on home sales for most of 2024, stayed elevated and put off many buyers.
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The drop in sales comes after the longest stretch of gains since late 2021, which offered some hope that home buyers and sellers were getting used to high mortgage rates. Home financing costs have ...
Exchange-traded funds that buy stocks in the U.S. home-building industry were sliding on Friday, as investors weighed data showing that existing-home sales dropped last month. The iShares U.S. Home ...
Home sales fell in January as prices continued soaring, showing the financial strains potential buyers are ...
Home sales data expected Friday will reflect old news: home buyers and sellers had a tough winter. Investors should keep ...
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Existing-home sales fell in the first month of the year as buyers continued to struggle with high home prices and 7% mortgage ...
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