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Tag: existing home sales

  • Home Sales and Prices

Share of FHA-Backed New Home Sales Climbs in Q1 2023

David LoganApril 26, 202303 mins

NAHB analysis of the most recent Quarterly Sales by Price and Financing report published by the U.S. Census Bureau reveals that the share of new home sales backed by FHA loans jumped from 8.4% to 11.7% in the first quarter of 2023. It is the largest share since 2007 but remains 30% lower than the post-Great…

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  • Home Sales and Prices

Existing Home Sales Slowed in March

Fan-Yu KuoApril 20, 2023May 30, 202414 mins

After reversing a 12-month slide last month, existing home sales retreated in March as mortgage rates began to increase again in February, according to the National Association of Realtors (NAR). With inflation continuing to ease and rent growth expected to slow, existing home sales will rebound, despite the slight drop in March. Total existing home…

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  • Home Sales and Prices

Existing Home Sales Surged in February

Fan-Yu KuoMarch 21, 2023May 30, 202404 mins

A brief drop in mortgage rates and a pullback in home prices boosted existing home sales in February, according to the National Association of Realtors (NAR). The 30-year mortgage rates averaged less than 6.3% in February per Freddie Mac and the median sales price in February posted the first decline since February 2012.  The monthly…

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  • Home Sales and Prices

Existing Home Sales Continue to Fall in January

Fan-Yu KuoFebruary 21, 2023June 20, 202404 mins

As elevated mortgage rates and tight inventory continue to weaken housing demand, the volume of existing home sales declined for a twelfth consecutive month as of January, according to the National Association of Realtors (NAR). This is the longest run of declines since 1999. While mortgage rates have stabilized in January, they are likely to…

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  • Home Sales and Prices

Existing Home Sales End 2022 with Weakest Year Since 2014

Fan-Yu KuoJanuary 20, 2023May 30, 202404 mins

As elevated mortgage rates and tight inventory continue to weaken housing demand, the volume of existing home sales declined for an eleventh consecutive month as of December, according to the National Association of Realtors (NAR). This is the longest run of declines since 1999. While mortgage rates have retreated in recent weeks due to recession…

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  • Home Sales and Prices

Existing Home Sales Decline Further in November

Fan-Yu KuoDecember 21, 2022May 30, 202404 mins

As rapid rising mortgage rates continue to weaken housing demand, the volume of existing home sales has declined for ten consecutive months as of November, according to the National Association of Realtors (NAR). This is the longest run of declines since 1999. While mortgage rates have retreated in recent weeks due to recession concerns, they…

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  • Home Sales and Prices

Existing Home Sales Falls for Ninth Straight Month in October

Fan-Yu KuoNovember 18, 2022May 30, 202404 mins

As higher mortgage rates continue to weaken housing demand, the volume of existing home sales has declined for nine consecutive months as of October, according to the National Association of Realtors (NAR). This is the longest run of declines since 1999. The average 30-year fixed mortgage interest rate increased from 3.11% at the start of…

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