Compared with January 2021, home sales were down 36.9%.
The numbers: U.S. existing-home sales fell 0.7% to a seasonally adjusted annual rate of 4 million in January, the National Association of Realtors said Tuesday.Economists polled by the Wall Street Journal were expecting existing-home sales to drop to 4.2 million.
Expressed in terms of the months-supply metric, there was a 2.9-month supply of homes for sale in January, unchanged from the previous month. Before the pandemic, a four or five-month supply was more the norm. All-cash transactions made up 29% of all transactions. About 31% of homes were sold to first-time home buyers, similar to the from the previous month.The sector has been feeling pain for months as rates and prices continue to make homeownership unaffordable, and the recent sharp rise in mortgage rates is only likely to keep the market in a standstill.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
U.S. Home Sales Fell in January for 12th Straight MonthU.S. home sales fell in January for the 12th straight month as high mortgage rates continued to weigh on the housing market
Read more »
US: Existing Home Sales decline by 0.7% in January vs +0.1% expectedExisting Home Sales in the US declined by 0.7% in January to an adjusted annual rate of 4 million, the National Association of Realtors (NAR) reported
Read more »
U.S. existing home sales fall in January, but pace slowingU.S. existing home sales dropped to a more than 12-year low in January, but the pace of decline slowed, raising cautious optimism that the housing market slump could be close to reaching a bottom.
Read more »
Used BMW X3 Review - 2010-2018Read the definitive used BMW X3 2010 - 2018 review from What Car?. We tell you what you need to know before you buy.
Read more »
Surpassing All Existing Designs – Researchers Develop High-Voltage Microbattery With Exceptional Energy and Power DensityA persistent technological challenge has been the difficulty in scaling down the electrochemical performance of large-format batteries to smaller, microscale power sources, hindering their ability to power microdevices, microrobots, and implantable medical devices. However, researchers at the Univer
Read more »