Existing-home sales in April saw their sharpest price decline in over a decade, reflecting the first significant year-over-year decline in housing prices, which remained high even as the broader housing market slowed down due to higher borrowing costs.
by the National Association of Realtors, which said the median price for an existing home in April was $388,800. Prices fell across the board in all four regions both in April compared to March, as well as in comparison to the previous year.
The housing market has been in a slowdown due to the Federal Reserve’s aggressive interest rate hikes over the past year as it tried to tame inflation. Higher interest rates have sent the cost of mortgages skyrocketing. The average 30-year fixed rate mortgage was 6.35 percent, according to Freddie Mac’s benchmark survey, while most homeowners who bought during the record low interest rates have been holding on to their home loans.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
US: Existing Home Sales drop by 3.4% in April vs. 0.1% expectedExisting Home Sales in the US dropped by 3.4% in April to an adjusted annual rate of 4.28 million, the National Association of Realtors (NAR) reported
Weiterlesen »
Existing home sales slide again in April amid inventory woes, high pricesSales of previously owned homes fell 3.2% in April from the prior month due to limited housing supply, according to the National Association of Realtors.
Weiterlesen »
Australia cancels Quad meeting in Sydney after Biden postponementAlbanese added an existing bilateral meeting with India Prime Minister Narendra Modi may still go ahead.
Weiterlesen »
Stellantis Will Close UK Plants Unless Brexit Deal Revised | CarscoopsAutomaker says existing deal will result in tarrifs when exporting electric vans to Europe from 2024 car auto cars
Weiterlesen »
Silver Price Analysis: XAG/USD seems vulnerable near 38.2% Fibo., lowest since AprilSilver enters a bearish consolidation phase on Wednesday and oscillates in a narrow trading band around the $23.70-$23.75 area, just above its lowest
Weiterlesen »
EUR/USD Price Analysis: Increasing bets for a drop to the April lowEUR/USD accentuates the selling bias and trades just pips away from the key support at 1.0800 on Thursday. The 1.0800 area appears supported by the te
Weiterlesen »