The housing market is showing signs of life at the end of 2024, posting its first monthly sales gain in more than three years in October as buyers took advantag
e of a dip in mortgage rates and locked into a home purchase.
NAR said Thursday the median existing sales price rose 4% from last year to $407,000. The average sales price on existing home have, lumping onto issues with affordability while providing homeowners with more equity to cash in on down the road. Elevated mortgage rates have been a stubborn problem for would-be homebuyers to navigate, making it even more expensive to buy a house in a market with limited options and high asking prices.
Industry analysts have been watching as buyers have started to accept that they will not get rates as low as 3% that were available during the coronavirus pandemic and instead have jumped off the sidelines when they dip toward 6%.
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.
Houston, it will no longer be the driest October on recordHouston, October 2024 will not go down as the driest October on record for the city.
Read more »
Amazon Kindle Paperwhite Signature Edition (2024) vs. Kindle Paperwhite (2024): Which wins out?Amazon has just launched new Kindles, but should you pay $40 more for the Amazon Kindle Paperwhite Signature Edition (2024) over the Kindle Paperwhite (2024)?
Read more »
2024 Mexican Grand Prix 2024 Odds, Picks & Predictions: Throw a Blanket Over Leclerc, Norris, VerstappenThe battle between Max Verstappen and Lando Norris for the season championship continues, but Charles Leclerc is stubbornly staying on as an outside threat while playing spoiler. He's among the favorites in the Mexican GP odds.
Read more »
2024 election updates: Walz warns voters 2024 Trump is more dangerous than 2016 TrumpWalz delivered remarks at a rally in Wilmington, North Carolina, on Thursday.
Read more »
2024 election updates: Biden casts 2024 election ballot, waiting in line with other votersUncertainty reins entering the final full week of the 2024 campaign with Democrat Kamala Harris and Republican Donald Trump locked in a fiercely competitive presidential contest.
Read more »
2024 election updates: Trump and Harris enter the final stretch of the 2024 campaignUncertainty reins entering the final full week of the 2024 campaign with Democrat Kamala Harris and Republican Donald Trump locked in a fiercely competitive presidential contest.
Read more »