January home sales fall as high mortgage rates, prices freeze out would-be buyers
Sales of previously occupied U.S. 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.
Where did the home buyers go? 7% mortgage rates sap any remaining energy from the housing market
Existing-home sales fell in the first month of the year as buyers continued to struggle with high home prices and 7% mortgage rates. Home sales fell 4.9% in January to a 4.08 million pace. That’s the number of homes that would be sold over an entire year if sales took place at the same rate in every month as they did in December.
Home Sales Sagged in January as Prices Continue to Rise. What to Expect This Spring.
Home buyers and sellers had a tough winter, new data confirm. It will be a chilly spring for first-time buyers if mortgage rates don’t fall, says one economist. Previously owned homes were sold at a seasonally adjusted annual rate of 4.
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. Sales fell 4.9% last month from December to a seasonally adjusted annual rate of 4.
January sales of previously occupied homes slipped with high mortgages and prices freezing buyers out of the market
January sales of previously occupied homes slipped with high mortgages and prices freezing buyers out of the market.
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