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US home sales drop sharply as prices hit an all-time high for January

Sales of previously occupied U.S. Homes fell 4.9% in January, totaling a seasonally adjusted annual rate of 4.08 million units, as reported by the National Association of Realtors.
The national median sales price for homes rose 4.8% in January to $396,900, marking the 19th consecutive month of increases, according to the National Association of Realtors.
Lawrence Yun, NAR's chief economist, stated that housing affordability remains a challenge due to rising prices and mortgage rates, which have been around 7%.
First-Time buyers will continue to struggle due to a lack of housing affordability if mortgage rates remain high.

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The Ohio Star

Existing Home Sales Fell Almost Five Percent in January, Continuing Slump

by Brett Rowland Sales of existing homes slipped 4.9% in January, but year-over-year sales were up 2% as high prices and mortgage rates keep some potential buyers on the sidelines, including first-time buyers. Existing home sales retreated in January, the National Association of Realtors said Friday. Total existing-home sales – completed transactions that include single-family homes, townhomes, condominiums and co-ops – dropped 4.9% from Decem…

8 hours ago·Ohio, United States

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Breitbart

Housing Market Struggles as High Prices and Mortgage Rates Weigh on Buyers

Existing-home sales stumbled in January, falling 4.9 percent from December to an annualized pace of 4.08 million, a sharper drop than the 2.6 percent decline economists had expected. The start of 2025 continues a prolonged period of weakness in home The post Housing Market Struggles as High Prices and Mortgage Rates Weigh on Buyers appeared first on Breitbart.

19 hours ago·United States

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New York Post

Housing market mired in slump as January home sales drop more than expected

Sales of previously occupied US homes fell in January as rising mortgage rates and prices put off many would-be homebuyers despite a wider selection of properties on the market.

21 hours ago·New York, United States

Existing home sales fell 4.9% in January, continuing slump

(The Center Square) — Sales of existing homes slipped 4.9% in January, but year-over-year sales were up 2% as high prices and mortgage rates keep some potential buyers on the

22 hours ago·United States

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