Home Sales and Prices consists of blogs detailing existing home sales, new home sales, all cash sales, home prices and others.
Existing home sales in February increased to the second highest level since March 2024, according to the National Association of Realtors (NAR). This rebound suggests buyers are slowly entering the market as inventory improves and mortgage rates decline from recent high in January. Despite rates easing, economic uncertainty may continue to constrain buyer activity. While…
Following two straight quarters of deceleration, house price appreciation accelerated slightly in the fourth quarter of 2024 due to the persistent high mortgage rates and low inventory. Although inventories of existing homes have improved from a year ago, the current 3.5-month supply remains below the 4.5- to 6-month supply that considered a balanced housing market….
New home sales decreased in January to a three-month low, as housing affordability continues to sideline potential home buyers. Mortgage rates are expected to remain above 6% throughout 2025, coupled with elevated home prices, creating a significant affordability challenge for both first-time buyers and those looking to upgrade. Sales of newly built, single-family homes in…
The traditional price gap between new and existing homes was nearly nonexistent at the end of 2024. The median price for a new single-family home sold in the fourth quarter of 2024 was $419,200, a mere $9,100 above the existing home sales price of $410,100, according to U.S. Census Bureau and National Association of Realtors…
After three months of increases, existing home sales retreated in January from the 10-month high last month, according to the National Association of Realtors (NAR). Sales continued to be suppressed by higher mortgage rates, which remained above 6.5% despite the Fed cutting rates by 100 basis points last year. The persistent high mortgage rates largely…
On a year-over-year basis, home prices grew at a rate of 3.75% for November, according to the S&P CoreLogic Case-Shiller Home Price Index (NSA). This marks an increase from the 3.59% growth rate recorded in October but is down from a peak of 6.54% in March 2024. By Metro Area In addition to tracking national…
A limited amount of existing inventory along with solid demand helped new home sales end the year on an up note, even as buyers continue to grapple with housing affordability challenges. Sales of newly built, single-family homes in December increased 3.6% to a 698,000 seasonally adjusted annual rate from an upwardly revised November number, according…
